McDonald's CEO: 'We need a stimulus measure, I think that is very clear'

McDonald's CEO: 'We need a stimulus measure, I think that is very clear'
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McDonald’s CEO Chris Kempczinski said on Tuesday that it is “very clear” that the U.S. will need a new coronavirus stimulus measure. 

During an interview on CNBC’s “Squawk on the Street,” Kempczinski congratulated President-elect Joe BidenJoe BidenFirst lady leaves Walter Reed after foot procedure Biden backs effort to include immigration in budget package MyPillow CEO to pull ads from Fox News MORE and Vice President-elect Kamala HarrisKamala HarrisHarris's bad polls trigger Democratic worries Why in the world are White House reporters being told to mask up again? Want to improve vaccine rates? Ask for this endorsement MORE on their “historic win,” and said that it is time to solve some “big issues” such as a new coronavirus package.

“Our hope and expectation is that as we’ve now moved from the election, that we can turn our sights toward working together and solving some big issues that we still as a country face,” he said. 


“Certainly coronavirus is one of those issues. We need a stimulus measure, I think that is very clear,” he added.

Congress and the White House have yet to reach a deal on the next round of coronavirus relief. Senate Majority Leader Mitch McConnellAddison (Mitch) Mitchell McConnellAn August ultimatum: No recess until redistricting reform is done After police rip Trump for Jan. 6, McCarthy again blames Pelosi The Hill's 12:30 Report - Presented by Facebook - US gymnast wins all-around gold as Simone Biles cheers from the stands MORE (R-Ky.) said after Election Day that he’d favor a bill by the end of the year. 

“I think that’s job one when we get back,” he said. “Hopefully, the partisan passions that prevented us from doing another rescue package will subside with the election.”

Negotiations thus far have been ongoing between Speaker Nancy PelosiNancy PelosiCapitol riot defendants have started a jail newsletter: report On The Money: Biden asks Congress to extend eviction ban with days until expiration | Economic growth rose to 6.5 percent annual rate in second quarter Top Democrat: 'A lot of spin' coming from White House on infrastructure MORE (D-Calif.) and Treasury Secretary Steven MnuchinSteven MnuchinThe Hill's Morning Report - Presented by Goldman Sachs - Biden rallies Senate Dems behind mammoth spending plan Mnuchin dodges CNBC questions on whether Trump lying over election Democrats justified in filibustering GOP, says Schumer MORE, but White House adviser Larry KudlowLarry KudlowMORE said that the administration has opened talks with McConnell on coronavirus relief. 

CNBC noted that the $1,200 stimulus checks from April helped lift sales for struggling businesses, and the Paycheck Protection Program helped about 700,000 businesses, including some McDonald’s franchisees.


Kempczinski also said there are other long-term issues that need to be addressed, including climate change and education. He added that the business community would be willing to negotiate on raising the federal minimum wage, which hasn’t been increased since 2009. 

“We’ve been pretty clear for a while now that we are not against a conversation on the minimum wage,” he said. “We work in 120 markets around the world with wage rates all over the place, everywhere from $20 to less than that.” 

“So, we’re not opposed to a conversation around the minimum wage,” he said. “Let’s just make sure that as changes are introduced, we do it in a logical way that balances the needs of, certainly people but also balances the needs of business owners.”