More than 100 business leaders — including AOL CEO Tim Armstrong — have signed onto Starbucks CEO CEO Howard Schultz’s letter pledging to withhold campaign donations to candidates of either party until they “strike a bipartisan, balanced long-term debt deal that addresses both entitlements and revenues,” POLITICO reports.
Schultz launched his initiative last week, calling on fellow CEOs and business people to join him in sending a message to Washington.
“As many of our political leaders campaign and vacation, the U.S. economy remains in a cycle of fear and uncertainty,” Schultz wrote in a Wednesday letter addressed to “fellow leaders” obtained by POLITICO, adding his campaign has “triggered a national dialogue and a groundswell of support.
Schultz’s letter also calls on business leaders to take unilateral steps to jump-start the economy — taking the place of a gridlocked Washington.
“We can provide strong leadership on the employment challenges our nation faces,” he added. “While economic headwinds affect each of our companies in distinct ways, we can all think creatively about how to accelerate job creation and growth as a collective engine for the country. We have to pull this economy forward. We have to lead.”
Among those who reportedly signed on (via POLITICO):
- Tim Armstrong, chairman and CEO of AOL
- Mickey Drexler, chairman and CEO of J. Crew Group
- Bill Campbell, chairman of Intuit
- Duncan Niederauer, CEO of NYSE Euronext