Bloomberg News

Blankfein Said to Be Headed to Hill for Cliff Meeting

November 26, 2012

Goldman Sachs Group Inc. (GS:US) Chief Executive Officer Lloyd Blankfein is among the executives scheduled to meet with U.S. House Republican leaders on the so- called “fiscal cliff,” according to a House aide and another person familiar with the plans.

House Speaker John Boehner is scheduled to meet with a group of CEOs pressing for a solution to the looming tax increases and spending cuts on Nov. 28 in the Capitol building. Others invited include Thomas Wilson, the president and CEO of Allstate Corp. (ALL:US), Doug Oberhelman, the CEO of Caterpillar Inc. (CAT:US), David Cote, the chairman and CEO of Honeywell International (HON:US) Inc. and Mark Bertolini, the chairman and CEO of Aetna Inc. (AET:US), according to the aide who asked for anonymity because the meeting hasn’t been announced.

Lawmakers, executives and interest groups from across the ideological spectrum are meeting in Washington as policy makers confront more than $600 billion in tax increases and spending cuts set to begin in January.

Related:

  • Geithner Keeps Withholding Freeze as Weapon to Curb Cliff
  • Fiscal Cliff Compromise Elusive as Congress Returns

Blankfein was among the Wall Street executives who signed an Oct. 18 letter to President Barack Obama and lawmakers warning that the inability to address the cuts and tax increases would result in something “the still-fragile U.S. economy cannot sustain.”

‘Constructive Discussion’

“We appreciate the opportunity to help contribute to a constructive discussion on these important issues,” David Wells, a Goldman Sachs spokesman, said today in an e-mail.

Obama will meet “this week” with group of business leaders at the White House, White House press secretary Jay Carney said. He declined to specify who Obama would see. Obama met Nov. 14 with a dozen chief executives, including General Electric Co. (GE:US)’s Jeffrey Immelt and Ford Motor Co.’s Alan Mulally.

The Republican lawmakers, which will include Majority Leader Eric Cantor of Virginia and Representative Kevin McCarthy of California, the third ranked Republican in the House, will be joined by Erskine Bowles, the co-founder of the Campaign to Fix the Debt and co-chairman of Obama’s 2010 fiscal commission. The meeting will take place in McCarthy’s office.

Greg Sherrill, chairman and CEO of Tenneco Inc. (TEN:US), and Nicholas Calio, president and CEO of the Airlines for America, are also scheduled to attend, said the House aide.

The invited CEOs are members of the Fix the Debt campaign’s “CEO Fiscal Leadership Council.” The group, co-founded by Bowles, a Democrat, and former Republican Senator Alan Simpson, the other co-chairman on Obama’s fiscal commission, is “a non- partisan movement to put America on a better fiscal and economic path,” according to its Web site.

Maya MacGuineas, the president of the Committee for a Responsible Federal Budget and spokeswoman for the campaign, is also scheduled to attend the meeting, according to the aide.

To contact the reporter on this story: Phil Mattingly in Washington at pmattingly@bloomberg.net

To contact the editor responsible for this story: Steven Komarow at skomarow1@bloomberg.net


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Companies Mentioned

  • GS
    (Goldman Sachs Group Inc/The)
    • $177.0 USD
    • 1.98
    • 1.12%
  • ALL
    (Allstate Corp/The)
    • $58.46 USD
    • 0.37
    • 0.63%
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