Obama to meet with CEOs, who plan to boost hiring
In the weeks since November's midterm elections, Obama has cited those three issues as examples of where Democrats and Republicans might be able to compromise. Heavy Democratic losses in the elections diminished Obama's prospects for passing most of his other legislative priorities before leaving office.
More US CEOs plan to boost hiring
Chief executives at the largest U.S. companies expect sales to keep growing in the next six months and also plan to step up hiring.
The Business Roundtable said Tuesday that 40 percent of its member CEOs plan to hire more workers, up from 34 percent in the third quarter. Nearly three-quarters project their sales will rise, roughly the same as the previous quarter.
The findings suggest that slowing growth overseas hasn't caused large corporations to pull back on their hiring plans. That bodes well for the government's report on November job gains, to be released Friday.
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Still, the CEOs say they are less likely to invest in new facilities or equipment: 13 percent say they plan to cut such spending, up from just 10 percent in the previous quarter.
Randall Stephenson, CEO of AT&T and chairman of the Roundtable, said the survey results reflect an economy that is "expanding, but at a rate well below its potential, especially when you compare it to previous recoveries."
Stephenson urged Congress to pass legislation this month that would extend a series of tax breaks for businesses, including a provision that lowers taxes for companies that invest in industrial equipment and other big-ticket items.
The Roundtable also plans to urge Congressional leaders in meetings this week to approve legislation that would give President Barack Obama broad authority to negotiate trade agreements with Europe and a group of Asian countries.
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Obama to meet with CEOs, who plan to boost hiring