Allstate CEO Wilson Says U.S. Should Raise Revenue, Cut Spending

Tom Wilson, chief executive officer of Allstate Corp. (ALL), told CNN that U.S. lawmakers should pursue tax increases and spending cuts to resolve the so-called fiscal cliff.

“It needs to be fixed because it’s good for the economy and our businesses,” Wilson said today in an interview on the news channel. “If it’s not fixed, the people that are going to get hurt the worst are the poor and the elderly.”

Allstate, based in Northbrook, Illinois, is the largest publicly traded U.S. home and auto insurer.

To contact the reporters on this story: Zachary Tracer in New York at ztracer1@bloomberg.net; Susanna Pak in New York at spak10@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

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