Bank of America CEO: Tax Cut Will Create Jobs
NEW YORK (
) --
Bank of America
(BAC) - Get Report
CEO Brian Moynihan believes a planned tax cut will create jobs.
President Obama said yesterday he plans to extend tax cuts implemented during the Bush administration that would extend to both rich and poor workers. Many powerful Democrats such as outgoing House speaker Nancy Pelosi have opposed extending cuts to the rich, and have threatened to oppose Obama's plan.
In a brief interview with
Bloomberg News
, Moynihan said of the tax cut, "that sort of can shift attitudes among business. At the end of the day, that's probably what is most important, is to have the attitude that yes I will hire more, yes I will do more, because I think I'm being supported."
In the wake of the crisis, U.S. banks appear to have focused new hiring efforts overseas.
Goldman Sachs
(GS) - Get Report
has said most of its hiring plans are focused in emerging markets.
Citigroup
(C) - Get Report
, has also been growing in both emerging and developed Asian markets and recently also expanded
hiring
in Europe.
--
Written by Dan Freed in New York
.
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