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Chris Kempczinski, CEO of McDonald & # 39; s, says the US wants one other Covid stimulus bundle

Chris Kempczinski, President of McDonald & # 39; s USA, speaks at the unveiling of McDonald & # 39; s new corporate headquarters during an opening ceremony on June 4, 2018 in Chicago, Illinois. The company headquarter returns from the suburb of Oak Brook to the city that it left in 1971.

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McDonald's CEO Chris Kempczinski told CNBC that he hopes President-elect Joe Biden will address some of the country's biggest problems, including the aftermath of the coronavirus pandemic.

"We need an incentive measure, I think that's very clear," he told CNBC's Carl Quintanilla in an interview that aired on Squawk on the Street Tuesday.

Democrats and Republicans failed to get another stimulus package, leaving millions of unemployed and struggling businesses in the lurch. Senate Majority Leader Mitch McConnell said he wanted an agreement to be passed this year, but his proposal is much lower than what the Democrats are seeking and it's not clear if an agreement will actually be reached.

The $ 1,200 stimulus checks sent to Americans in April helped drive sales for weak restaurants and retailers, and the Paycheck Protection Program funded nearly 700,000 businesses, including McDonald's franchisees.

Kempczinski also said he hoped the next government would look for solutions to some long-term problems like climate change and ensure that jobs and education provide opportunities for all.

McDonald & # 39; s is open to discussions about the minimum wage, he said. The national minimum wage has been constant at $ 7.25 an hour for more than a decade. The struggle for $ 15 and a union made up of fast food workers has been pushing for a minimum wage of $ 15 for years with isolated success.

Most recently, Florida voted to raise its wage floor over the next six years until it hits $ 15 an hour. It is the eighth state to approve a minimum wage of $ 15 an hour and the second largest state to do so.

Kempczinski also admitted that some of the Trump administration's proposals helped McDonald's and were in line with his beliefs. For example, the company benefited from its corporate tax cuts.

But Kempczinski doesn't expect the Biden government to change everything. He predicts that the common employer rule will remain unchanged. Typically, someone who works for one company can also be considered an employee of another company. But the National Labor Review Board said last year the rule doesn't apply to McDonald's for its franchise restaurant employees. The decision was a huge win for McDonald & # 39; s, which has argued that it should not be held responsible for labor violations by its franchisees.

McDonald & # 39; s shares fell slightly on Tuesday. The stock, valued at roughly $ 165 billion, is up 8% this year.

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