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New York City business leaders: Trump should allow transition to Biden administration

More than 150 New York City business leaders are urging President Trump to acknowledge Joe Biden’s victory in the presidential election and allow for a transition of power to begin for the sake of the U.S. democracy.

Trump’s protracted battle against the presidential election results – and challenging of vote counts in several states – is damaging to the nation’s economy and democracy amid the raging coronavirus pandemic, write 164 business and civic leaders Monday in an open letter.

The administrator of the General Services Administration should “immediately ascertain that” Biden and Sen. Kamala Harris are the president-elect and vice president-elect, said the signees, which include CEOs and presidents of companies such as AIG, BlackRock, Goldman Sachs, HSBC Bank, Mastercard, and Visa. “Our national interest and respect for the integrity of our democratic process requires that … a proper transition can begin,” the letter reads.

This letter lands the same day that Steve Schwarzman, the CEO of private equity firm Blackstone, and a Trump supporter, told Axios that the election outcome “is very certain … and the country should move on. … Like many in the business community, I am ready to help President-elect Biden and his team as they confront the significant challenges of rebuilding our post-COVID economy.”

And the New York City business leaders’ letter also echoes concerns aired Monday in a statement by more than 100 Republican former national security officials who signed a statement that President Trump’s refusal to OK the transition imperils the nation.

Last week, the Republican-leaning U.S. Chamber of Commerce also urged similarly that the transition to the Biden administration begin.

“Every day that an orderly presidential transition process is delayed, our democracy grows weaker in the eyes of our own citizens and the nation’s stature on the global stage is diminished,” the New York City business leaders’ letter reads. “Withholding resources and vital information from an incoming administration puts the public and economic health and security of America at risk.”

Read from source: https://www.usatoday.com/story/money/business/2020/11/23/trump-should-acknowledge-biden-victory-business-leaders-say/6396166002/