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Posted at 04:21 PM ET, 03/30/2011

Liberal groups call for GE’s Jeffrey Immelt to resign from White House jobs council

President Obama launched a new economic advisory council focused on job creation and competitiveness and named General Electric chief executive Jeffrey Immelt as its head.Now liberal groups are calling on him to quit the post. (Yuriko Nakao - REUTERS)
Two liberal groups Wednesday called for General Electric Chief Executive Jeffrey Immelt to step down as the head of the White House’s Council on Jobs and Competitiveness following a report that GE paid no federal taxes last year despite more than $14 billion in profits.

“One of the chief ways GE avoids paying taxes is by shifting a large portion of its profits overseas,and jobs follow. Now GE’s CEO is the person charged with helping the President create jobs here in America. That’s just perverse, “ the groups and Progressives United told supporters in an e-mail message.

President Obama tapped Immelt to head the council in January. A story in the New York Times on Friday reported that General Electric avoids U.S. tax liability through a complicated series of financial moves.

By Perry Bacon Jr.  |  04:21 PM ET, 03/30/2011

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