By The Associated PressA handful of top executives from top U.S. employers are speaking out about the coming weeks as the government prepares to roll back the employer mandate on the nation’s workplace.
The CEOs of Ford Motor Co., AT&T Inc., Boeing Co., Hewlett Packard Co., Microsoft Corp., Comcast Corp., Intel Corp., JPMorgan Chase & Co., McDonald’s Corp., Oracle Corp., PepsiCo Inc., Procter & Gamble Co., Qualcomm Inc., Samsung Electronics Co., and Verizon Communications Corp. are among a small group of CEOs who have publicly voiced support for a return to a traditional workplace.
In recent months, these executives have been vocal about their concerns about the impact the employer-mandate will have on the economy.
In particular, the CEOs have raised the specter of rising inequality, as well as the prospect of a new generation of workers lacking the skills necessary to compete in a global economy.
The top CEOs, who spoke to the AP in private and in public, said they were “disappointed” in the Obama administration’s decision to phase out the mandate, saying the repeal was a “massive blow” to the U.K. and Europe.
They also pointed out that some U.N. estimates suggest that more than a million U.T. jobs will be lost over the next five years because of the loss of tax-free contributions to retirement plans, and the loss in the value of the stock market.
In the U of A, the top executives said they had begun discussing the possibility of bringing back the traditional employer-based pension system that has served the U for generations.
The U. of A plan is expected to generate more than $400 billion annually in annual tax revenue, they said, though that figure may not be as significant as many people might expect.
The president and his economic advisers, meanwhile, have made a concerted effort to convince the public that the tax-payer-funded employer mandate will help bring about economic growth.
The administration is counting on the mandate to pay for an estimated $1 trillion in new spending over the coming decade.
The plan has also been praised by some economists as a way to stimulate the economy and spur the economy to invest more.
The push for an employer mandate comes at a time when many Americans are increasingly worried about their retirement.
A recent Gallup poll found that more Americans are more worried about the possibility that they will lose their job than they are about the fact that they might lose their home, according to a survey from the University of Maryland.