Kamala Harris is backed by Yelp CEO Magic Johnson and other executives

Vice President Kamala Harris’ presidential bid has just been endorsed by nearly 90 current and former top executives from across corporate America, including high-profile CEOs and several longtime Democratic donors.

“Electing her is the best way to support the continued strength, security and reliability of our democracy and economy,” the leaders wrote in a letter shared with CNBC. “With Kamala Harris in the White House, the business community can be confident that they will have a president who wants American industries to thrive.”

The group includes a number of high-ranking executives from public companies, including Snap chairman Michael Lynton and Yelp CEO Jeremy Stoppelman. Other signatories include Chris Larsen, who helped found blockchain platform Ripple, and Box CEO Aaron Levie.

Most of the letter’s signatories are former business executives, from former Blackstone CEO Tony James and Lazard CEO Peter Orszag to many former heads of public companies. Executives who once led Pepsico, Merck, Starbucks, PayPal and Ford all made the list.

A number of donors aligned with Harris — or the Democratic Party more broadly — also signed the letter, including Laurene Powell Jobs, NBA Hall of Famer Magic Johnson, former Walt Disney Studios president and Dreamworks CEO Jeffrey Katzenberg and co -Facebook founder Dustin Moskovitz. .

Several of those people have already gone to bat for Harris in the nearly two months since she became the de facto Democratic nominee. Founder of Cost Plus Drugs Co. and minority owner of the Dallas Mavericks Mark Cuban and Reid Hoffman – both have signed another pledge to support Harris — are signatories, as they are IAC President Barry Diller.

“Kamala Harris is pro-business,” Cuban argued earlier this week. “This is Kamala Harris’ campaign, it’s not Joe Biden’s campaign,” later adding that she’s “100 percent focused” on business.

to Harris economic plan includes a push to restore the expanded child tax credit, create a new tax credit to give low- and moderate-income families with a newborn $6,000, and cut taxes by up to $1,500 for low-income earners. She also pledged to target high prescription drug prices, expensive food billsand The siphoning of buying houses on Wall Street.

According to Goldman Sachs analysts, the best result of the 2024 presidential electionat least for the economy, that would be a Harris win and a congressional Democratic win. The worst-case scenarios come when former President Donald Trump returns to office and implements tougher immigration controls and high tariffs on imported goods, analysts said.

Trump’s economic proposals would also increase the federal deficit by $5.8 trillion over the next decade, nearly five times more than Harris’ proposals, which would add $1.2 trillion, according to the data. recent studied from the University of Pennsylvania, Penn Wharton Budget Model.