Illustration: Aïda Amer/Axios

In a striking new sign of the broader role corporations are shouldering in society, Business Roundtable — the CEOs of America's biggest companies — today announced a raft of initiatives "to advance racial equity and justice."

Why it matters: Big companies are bluntly admitting, and tackling, injustices they so long ignored and perpetuated.

"Every American has been challenged by the events of this year but not equally," the BRT says. "[C]ommunities of color are bearing a disproportionate burden, widening an already large racial divide in America."

  • "[T]he events of 2020 have illustrated how far we still have to go to ensure that every person can fully realize opportunity and justice in America."

The CEOs are promising to push for "real change" in six areas: employment, finance, education, health, housing and criminal justice.

  • They promise to "make philanthropic investments, update employment practices and innovate within their businesses ... and will continue to engage with policymakers at the federal, state and local level."

Walmart president and CEO Doug McMillon, the Business Roundtable chairman, writes in USA Today:

[I]t's clear we need to do more. It's also clear that we, alone, can’t accomplish what has to be done. It will take broad cooperation of leaders from every sector of society working together.
Subscribe to Axios AM/PM for a daily rundown of what's new and why it matters, directly from Mike Allen.
Please enter a valid email.
Please enter a valid email.
Server error. Please try a different email.
Subscribed! Look for Axios AM and PM in your inbox tomorrow or read the latest Axios AM now.

Go deeper

Introducing 'Hard Truths'

Photo Illustration: Sarah Grillo. Logo: Miranda Leung/Axios. Photos: Bettmann, Stephen F. Somerstein/Getty Images

Hard Truths is an Axios series exploring the impact of race in America.

Why it matters: If you’re white or rich, it’s easy to believe that racism is something that ended years ago. But the hard truth is: That’s not supported by facts.

  • Our society, institutions and culture are still filled with barriers that shut out people because of the color of their skin, the origins of where they were born and other factors they can’t control.
  • That didn’t just happen a long time ago. It’s happening right now.

Driving the news: We recognize most newsrooms, including ours, pay too much attention to news of the day, and less time examining what's below the surface.

  • We were challenged on this by an Axios employee, who asked during the nationwide protests this summer: "Why does the news media spend all its time focusing just on events like this and then move on, instead of explaining systemic racism?"

Between the lines: We know that some of you will be skeptical.

  • We promise that Hard Truths — like all Axios coverage — will be grounded in facts, clinical and clear-eyed, so you get the full picture.

What’s next: Each month, we'll examine a fresh topic. Our project begins on Saturday with voting. In coming months, we’ll explore education, housing, technology, sports, health care and more. You’ll find this coverage:

  • In special Saturday bonus editions of Axios AM.
  • On Axios.com in a new "Deep Dive" format.
  • On a special edition of our "Axios Today" podcast that will accompany each new topic.
  • On "Axios on HBO."

The bottom line: Our goal is to equip you with facts showing the full picture of race in America — a topic long overdue for this nation and its leaders to confront.

Go deeper: Our first installment, on race and voting in America.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: McConnell urges White House not to strike stimulus deal before election — Republican senators defend Fauci as Trump escalates attacks.
  2. Health: The next wave is gaining steam.
  3. Education: Schools haven't become hotspots — University of Michigan students ordered to shelter-in-place.
Updated 2 hours ago - Politics & Policy

Biden has huge cash advantage over Trump as Election Day nears

Democratic presidential nominee Joe Biden in Wilmington, Delaware, on Monday. Photo: Drew Angerer/Getty Images

Democratic presidential nominee Joe Biden had $177.3 million in the bank at the end of September, per the latest Federal Election Commission filings.

Why it matters: President Trump's re-election campaign reported having $63.1 million in the bank at the end of last month, as campaigning enters the final stretch ahead of Election Day on Nov. 3.