Business leaders from Apple, Disney, Netflix urge Congress to pass $1 trillion emergency relief package

Disney Executive Chairman Bob Iger / © Josh Hallett

Nearly 100 business leaders have called on Congress to provide a massive $1 trillion emergency relief package to avoid potentially disastrous state budget cuts.

In a letter to congressional leaders, Governor Gavin Newsom’s Task Force, backed by leading entertainment industry figures including Disney Executive Chairman Bob Iger and Apple CEO Tim Cook, urges congress to take immediate action in passing a $1 trillion spending bill for state and local governments.

91 California business leaders have signed the letter which includes the members of the Governor’s new Task Force on Business and Jobs Recovery.

Among the members who joined the Task Force in April are actor and former Governor of California Arnold Schwarzenegger, Jeff Shell, CEO of NBCUniversal, Peter Guber, Chairman & CEO of Mandalay Entertainment and Ted Sarandos, Chief Content Officer of Netflix.

In the letter, 91 California leaders from the Governor’s Task Force address congressional leaders in their own capacity, and call for Congress to provide “$1 trillion in direct and flexible relief to states, tribes and local governments.”

It goes on to say that “this funding will help our states and cities - and America’s economy - come out of this crisis stronger and more resilient.”

Since the start of the pandemic, the entertainment industry has been severely impacted by the suspension of film productions, including the closure of theme parks, offices and hotels. States are also facing severe budget shortfalls, and will need congressional support and a funding bill to help the economy recover.

For film industry professionals and workers across the entertainment and hospitality industries, the impact of the COVID-19 pandemic has been far worse than the 2008-2009 recession.

It is estimated that U.S. unemployment claims could climb above 20% this year before hiring starts to bring unemployment back to where it was - but this may take several years.

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