In the news:
Costco CEO tells Obama, no more middle-class tax hikes
President Obama spoke this past weekend with several prominent CEOs, including Costco Wholesale’s Craig Jelinek, who told him to avoid middle-class tax increases.
Seattle Times business reporter
Costco Wholesale CEO Craig Jelinek told President Obama over the weekend that he supports efforts to compromise with Congress before the end of the year in a way that avoids tax increases on the middle class.
With more than 115,000 U.S. workers and small-business customers employing thousands of workers who have “borne the brunt of the recession,” Jelinek said in a rare Costco news release that he told the president it would be “a particular burden on those working families to face higher income taxes.”
“I encouraged the president to continue working with congressional leadership to find a balanced solution to the deficit that will avoid middle-class tax increases,” he said in the release. “It is imperative that both sides of the ‘aisle’ compromise ... to eliminate uncertainty, and allow for continued economic recovery.”
Obama spoke with the CEO on Saturday. The president also spoke with Boeing CEO Jim McNerney, Apple CEO Tim Cook, investor Warren Buffett, and JPMorgan Chase CEO Jamie Dimon.
Melissa Allison: 206-464-3312 or email@example.com. Twitter @AllisonSeattle.