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Capitol Report: Biden, Yellen to discuss $1.9 trillion COVID relief plan with JPMorgan, Walmart, Gap CEOs

President Joe Biden and Treasury Secretary Janet Yellen will meet Tuesday with a handful of top U.S. chief executives to discuss the proposed $1.9 trillion COVID relief plan, the White House said, as Democrats aim to rush the proposal through Congress. Read More...

President Joe Biden and Treasury Secretary Janet Yellen will meet Tuesday with a handful of top U.S. chief executives to discuss the proposed $1.9 trillion COVID relief plan, the White House said, as Democrats aim to rush the proposal through Congress.

The afternoon meeting will include JPMorgan Chase’s JPM, -0.41% Jamie Dimon, Walmart’s WMT, +0.59% Doug McMillon, Gap’s GPS, -0.63% Sonia Syngal, Marvin Ellison of Lowe’s LOW, -0.51% and Tom Donohue, the CEO of the U.S. Chamber of Commerce. Vice President Kamala Harris will also join the meeting.

Biden is convening the meeting to “hear feedback” from the business leaders, said White House press secretary Jen Psaki, who also noted that Walmart is one of the biggest employers in the U.S.

Biden’s proposal, dubbed the American Rescue Plan, would give $1,400 direct payments to lower income individuals; $350 billion for state and local governments; and $70 billion for vaccines and testing; among other items.

Read: Dueling child-cash plans take center stage as coronavirus-aid outline takes shape

Congressional Democrats have begun piecing together a package of the same size that largely follows Biden’s plan. Democratic leaders are hoping to get legislation to Biden by the middle of March, when emergency unemployment benefits are due to expire.

Now read: These are the key COVID-aid deadlines coming up as Democrats race to pass Biden’s plan

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