More than 90 company executives endorse Harris for US president

WASHINGTON: More than 90 company executives, including the chief executives of Yelp and Chobani as well as the former CEOs of PepsiCo, Ford Motor Co and Yahoo!, endorsed U.S. Vice President Kamala Harris in a letter released on Friday.

The group, which includes top sports and investment executives, said they were confident that the Democrat, who faces Republican former President Donald Trump in the Nov. 5 presidential election, would continue to bolster the economy and preserve American democracy.

“Harris has a strong record of advancing actions to spur business investment in the United States and ensure American businesses can compete and win in the global market,” they wrote in the letter, first reported by CNBC.

“She will continue to advance fair and predictable policies that support the rule of law, stability, and a sound business environment, and she will strive to give every American the opportunity to pursue the American dream,” the group added.

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Among those backing the vice president were billionaire Mark Cuban, former 21st Century Fox CEO James Murdoch and Earvin “Magic” Johnson, according to the letter provided by the Harris campaign.

Laurene Powell Jobs, head of the Emerson Collective and widow of former Apple CEO Steve Jobs, also endorsed Harris as did the former chief executives of Merck, Aetna, GoDaddy, Blackstone and Starbucks, among others.

Harris faces a tight race against Trump in a critical election as the economy weighs heavily on some voters as does the future of U.S. democratic systems. Both candidates are laying out their vision for jobs and economic growth ahead of November’s contest even as some early voting is poised to begin in some U.S. states.

The vice president’s economic plan would aim to cut taxes for most Americans, tackle grocery “price gouging,” bolster housing and offer new child tax credits. She would also seek to raise the corporate tax rate to 28% from 21%. Key labor groups have also endorsed her.

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Trump in remarks this week to the New York Economic Club said he would lower companies’ tax rate to 15% and hire billionaire Elon Musk to audit the U.S. government. He also said he would open up U.S. national lands to allow large scale housing construction and said he would declare a national emergency to eliminate regulations for energy projects.

Goldman Sachs, in a note this week, said economic output was likely to take a hit next year if Trump wins, mostly from increased tariffs on imports and tighter immigration policies.

Under a Harris presidency, the United States would likely see stronger job grown and a “very slight boost to GDP” investment and growth, its analysts said.