In the last 24 hours, business leaders from nearly every corner of the U.S. economy have roundly condemned the violence and vandalism at Capitol Hill on Wednesday. 

Manufacturers, retailers, and corporate head-honchos alike have criticized President Donald Trump and certain Republicans' efforts to delay the peaceful transfer of power, which they say will only hurt the U.S. economy. 

"It is not good for small businesses to have disarray, confusion, uncertainty," Frank Knapp Jr, co-chair of Small Business for America’s Future, told Cheddar. "None of that is good for business or consumer confidence, and small businesses need consumers to be confident." 

Some of the most powerful business organizations in the country have echoed this sentiment, and in some cases even exceeded it, calling Wednesday's events a grave assault on democracy. 

"Throughout this whole disgusting episode, Trump has been cheered on by members of his own party, adding fuel to the distrust that has inflamed violent anger," National Association of Manufacturers CEO Jay Timmons said in a statement. "This is not law and order. This is chaos."

The group has also called on Vice President Mike Pence to invoke the 25th Amendment to remove Trump from office prior to the inauguration of President-elect Joe Biden. 

Retail Industry Leaders Association President Brian Dodge said in a statement: "It’s time for men and women of goodwill in government to denounce the conspiracy theories and cancerous rhetoric employed by those cravenly attempting to capitalize on political chaos."

Striking a more moderate tone, the Business Roundtable called on the nation to "unite around President-elect Biden and Vice President-elect Harris."

Even BlackRock CEO Larry Fink, who in the past has praised the president, was among those executives demanding that Congress certify the election of Joe Biden as president.

For now, these are just denunciations. But some businesses are weighing whether they should withdraw funding or support from lawmakers who, in their opinion, helped spur the violence at Capitol Hill by calling into question the democratic process. 

"We have not had that conversation about individual members of Congress, but we will have to have a serious conversation about that," Knapp said. "Do we want to engage with them or not? I can't answer that question, but it is a legitimate question. It's a legitimate question to ask: should there be any repercussions for the actions of members of Congress, and does the business community have a role in that?" 

Knapp added that businesses don't want to operate in a country where an authoritarian leader has arbitrary power over the political system. 

"Businesses like democracy, because that is good for business, entrepreneurship." 

In the short-term, the more immediate negative consequence for the small business community is that Congress is once again distracted from the coronavirus recovery.  

"It takes the eye off the ball for Congress," he said. "They should be about getting the vaccine out there into arms. That is what's going to give more confidence to consumers to go out and engage in commerce with our small businesses." 

Share:
More In Business
Poll: More Americans think companies benefit from legal immigration
A new poll finds U.S. adults are more likely than they were a year ago to think immigrants in the country legally benefit the economy. That comes as President Donald Trump's administration imposes new restrictions targeting legal pathways into the country. The Associated Press-NORC Center for Public Affairs Research survey finds Americans are more likely than they were in March 2024 to say it’s a “major benefit” that people who come to the U.S. legally contribute to the economy and help American companies get the expertise of skilled workers. At the same time, perceptions of illegal immigration haven’t shifted meaningfully. Americans still see fewer benefits from people who come to the U.S. illegally.
Tylenol maker rebounds a day after unfounded claims about its safety
Shares of Tylenol maker Kenvue are bouncing back sharply before the opening bell a day after President Donald Trump promoted unproven and in some cases discredited ties between Tylenol, vaccines and autism. Trump told pregnant women not to use the painkiller around a dozen times during the White House news conference Monday. The drugmaker tumbled 7.5%. Shares have regained most of those losses early Tuesday in premarket trading.
Load More