More than 100,000 American consumers signed a petition asking Macy's Chief Executive Officer Terry Lundgren to drop out of the "Fix the Debt" Coalition. Fix the Debt portrays itself as dedicated to lowering the national debt, when the reality is that it is lobbying to cut Social Security, Medicare and Medicaid and give more tax breaks to the wealthiest 2%. The consumers are part of Progressive Congress, the nonprofit foundation of the Congressional Progressive Caucus, or CREDO, a progressive activist organization.
"Macy’s is a symbol of home and holidays for countless American families, which makes it even more appalling for CEO Terry Lundgren to violate that trust by trying to slash the vital benefits so many of these families rely on,” said Progressive Congress Executive Director Charles Chamberlain. “Instead of joining groups like Bain Capital and Goldman Sachs in pushing a dangerous plan that hurts seniors and working families, Terry Lundgren should honor the trust of Macy’s customers and drop out of the CEO Council.”
Becky Bond, political director of CREDO, says Macy's CEO is "acting like the Grinch who stole Medicare."
It’s appalling that during this holiday season a group of CEOs, including Macy’s Terry Lundgren, are spending millions to lobby Congress to cut Social Security, Medicare and Medicaid benefits—all to get themselves and their companies massive tax breaks.