U.S. Vice President and Democratic presidential candidate Kamala Harris speaks at a campaign event at the Throwback Brewery, in North Hampton, New Hampshire, on September 4, 2024.
Joseph Prezioso | AFP | Getty Images
WASHINGTON — In a strategic move ahead of the first presidential debate, 88 current and former top executives from across corporate America, including several high-profile CEOs, have publicly endorsed Vice President Kamala Harris for president. The three-page list, shared exclusively with CNBC, boasts names like Aaron Levie of Box, Jeremy Stoppelman of Yelp, and Michael Lynton, chairman of Snap, Inc., along with numerous prominent figures from Silicon Valley, Wall Street, and various industries. This high-profile backing signifies a coordinated effort to showcase Harris’ support within the business community and bolster her campaign strategy in a tight race, with the first debate just days away.
Key Takeaways
- A strategic show of force: The endorsement letter, though brief, serves as a well-timed political move to highlight Harris’ appeal among business leaders, particularly ahead of the upcoming presidential debate.
- Diverse list of supporters: The letter features a diverse range of business leaders, including CEOs, venture capitalists, investors, and philanthropists representing various sectors like technology, finance, media, and sports.
- Harris’ economic agenda: The letter reinforces Harris’ message of advocating for policies that foster a sound business environment and support American industries. She has outlined proposals focused on small business support, including a plan to increase a tax deduction for start-up expenses by ten times, and capital gains tax reform, proposing a 28% top rate for those earning over $1 million per year.
A strategic purpose
The letter, while featuring a lengthy list of names, is itself remarkably short. The signatories express their belief that electing Harris is "the best way to support the continued strength, security, and reliability of our democracy and economy." They highlight Harris’s ability to "advance fair and predictable policies that support the rule of law, stability, and a sound business environment."
While the letter’s target audience is not the general public, it serves as a powerful signal to the business community, demonstrating Harris’s strong network of supporters. This strategic move comes at a crucial time, as Harris and Donald Trump are engaged in a tight race with their economic visions clashing.
Economic Visions Collide
Harris and Trump have both presented their contrasting economic agendas in recent days, laying the groundwork for the first presidential debate on September 10.
Harris aims to attract business investment with a focus on supporting small businesses and incentivizing private sector growth. Her economic plan includes a proposed increase in the tax deduction for start-up expenses and a revised capital gains tax rate that aims to be more appealing to investors.
Trump has countered with his own economic strategy, emphasizing government efficiency and promoting domestic manufacturing. He has pledged to establish a commission aimed at tackling government waste and fraud and lower the corporate tax rate to 15% for those companies that manufacture products in the United States.
Trump’s Business Support
While Harris boasts a robust endorsement letter signed by numerous prominent business leaders, Trump has also garnered support from well-known figures in the private sector. Notable figures including Cantor Fitzgerald CEO Howard Lutnick and Tesla and SpaceX CEO Elon Musk have expressed their preference for Trump’s policies and leadership.
The competition for business support is undoubtedly a key factor in the upcoming election, and the endorsement letter serves as a powerful message about the strong network of support that Harris has cultivated within the business community.
Behind the Scenes
The organization behind this powerful endorsement can be traced to four key individuals: Roger Altman, senior chairman of Evercore, Blair Effron, co-founder of Centerview Partners, former American Express CEO Ken Chenault, and former Xerox CEO Ursula Burns. This group spearheaded the effort, organizing the names and presenting the letter to the Harris presidential campaign.
The letter, and the names it carries, represent a coordinated attempt to showcase Harris’s strength in the business world while bolstering her campaign’s broader message of a stable and prosperous economy under her leadership. The timing of the letter, coinciding with the upcoming debate and a crucial moment in the election cycle, is deliberate and strategic. As the presidential race heats up, the endorsement underscores the importance of the business community’s influence and demonstrates the strategic maneuverings employed by both candidates to secure their place in the White House.
U.S. Vice President and Democratic presidential candidate Kamala Harris speaks at a campaign event at the Throwback Brewery, in North Hampton, New Hampshire, on September 4, 2024.
Joseph Prezioso | AFP | Getty Images
WASHINGTON — In a strategic move ahead of the first presidential debate, 88 current and former top executives from across corporate America, including several high-profile CEOs, have publicly endorsed Vice President Kamala Harris for president. The three-page list, shared exclusively with CNBC, boasts names like Aaron Levie of Box, Jeremy Stoppelman of Yelp, and Michael Lynton, chairman of Snap, Inc., along with numerous prominent figures from Silicon Valley, Wall Street, and various industries. This high-profile backing signifies a coordinated effort to showcase Harris’ support within the business community and bolster her campaign strategy in a tight race, with the first debate just days away.
Key Takeaways
- A strategic show of force: The endorsement letter, though brief, serves as a well-timed political move to highlight Harris’ appeal among business leaders, particularly ahead of the upcoming presidential debate.
- Diverse list of supporters: The letter features a diverse range of business leaders, including CEOs, venture capitalists, investors, and philanthropists representing various sectors like technology, finance, media, and sports.
- Harris’ economic agenda: The letter reinforces Harris’ message of advocating for policies that foster a sound business environment and support American industries. She has outlined proposals focused on small business support, including a plan to increase a tax deduction for start-up expenses by ten times, and capital gains tax reform, proposing a 28% top rate for those earning over $1 million per year.
A strategic purpose
The letter, while featuring a lengthy list of names, is itself remarkably short. The signatories express their belief that electing Harris is "the best way to support the continued strength, security, and reliability of our democracy and economy." They highlight Harris’s ability to "advance fair and predictable policies that support the rule of law, stability, and a sound business environment."
While the letter’s target audience is not the general public, it serves as a powerful signal to the business community, demonstrating Harris’s strong network of supporters. This strategic move comes at a crucial time, as Harris and Donald Trump are engaged in a tight race with their economic visions clashing.
Economic Visions Collide
Harris and Trump have both presented their contrasting economic agendas in recent days, laying the groundwork for the first presidential debate on September 10.
Harris aims to attract business investment with a focus on supporting small businesses and incentivizing private sector growth. Her economic plan includes a proposed increase in the tax deduction for start-up expenses and a revised capital gains tax rate that aims to be more appealing to investors.
Trump has countered with his own economic strategy, emphasizing government efficiency and promoting domestic manufacturing. He has pledged to establish a commission aimed at tackling government waste and fraud and lower the corporate tax rate to 15% for those companies that manufacture products in the United States.
Trump’s Business Support
While Harris boasts a robust endorsement letter signed by numerous prominent business leaders, Trump has also garnered support from well-known figures in the private sector. Notable figures including Cantor Fitzgerald CEO Howard Lutnick and Tesla and SpaceX CEO Elon Musk have expressed their preference for Trump’s policies and leadership.
The competition for business support is undoubtedly a key factor in the upcoming election, and the endorsement letter serves as a powerful message about the strong network of support that Harris has cultivated within the business community.
Behind the Scenes
The organization behind this powerful endorsement can be traced to four key individuals: Roger Altman, senior chairman of Evercore, Blair Effron, co-founder of Centerview Partners, former American Express CEO Ken Chenault, and former Xerox CEO Ursula Burns. This group spearheaded the effort, organizing the names and presenting the letter to the Harris presidential campaign.
The letter, and the names it carries, represent a coordinated attempt to showcase Harris’s strength in the business world while bolstering her campaign’s broader message of a stable and prosperous economy under her leadership. The timing of the letter, coinciding with the upcoming debate and a crucial moment in the election cycle, is deliberate and strategic. As the presidential race heats up, the endorsement underscores the importance of the business community’s influence and demonstrates the strategic maneuverings employed by both candidates to secure their place in the White House.