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Jay Timmons makes a statement

Amid the flurry of corporate condemnations of last week’s violence at the Capitol, one stood out. In its statement, the National Association of Manufacturers called out President Trump directly and urged Vice President Mike Pence to consider removing him to “preserve democracy.” The Times’s Jim Tankersley, Peter Eavis and DealBook’s Lauren Hirsch got the back story of the unexpectedly severe statement, perhaps the starkest sign of corporate America’s break with the Trump administration.

Once a reliable conservative ally, the trade group has hosted Mr. Trump at annual meetings, worked closely with his administration on deregulation and tax cuts, and gave Ivanka Trump an award last year. N.A.M.’s president, Jay Timmons, has long ties to the Republican Party, and previously served as chief of staff to Senator George Allen of Virginia.

What changed? Quite likely, the reason that the group was able to speak out so forcefully last week was that Mr. Timmons did not poll the board’s membership before issuing the statement (he declined to say whom he did consult). When The Times reached out to the company’s board members, most referred to their own vaguely worded statements condemning the violence. Few would comment on N.A.M.’s call for the removal of Mr. Trump.

• Mr. Timmons has become increasingly dismayed by the Trump White House, and when his father died from Covid-19 last month, he released a statement via N.A.M. in which he blamed “careless” behavior by people encouraged by “national leaders” who weren’t urging masks or other precautions. After a pro-Trump mob stormed the Capitol, “it was a clear and present threat to our democracy,” Mr. Timmons told The Times. “I thought it was important to speak up.”

The week ahead

The House is expected to vote as soon as Tuesday on impeaching President Trump for a second time. But the Senate won’t take up a trial until at least Jan. 19, according to Senator Mitch McConnell. House lawmakers will also vote on a resolution calling on the cabinet to remove Mr. Trump by invoking the 25th Amendment.

Today, the Paycheck Protection Program reopens for small-business borrowers, via a select group of community lenders. Also today, American stock exchanges will delist Chinese companies targeted by a Trump administration executive order (and American banks are dropping linked investment vehicles in Hong Kong as a result).

Big banks begin reporting their latest earnings, with Citigroup, JPMorgan Chase and Wells Fargo releasing numbers on Friday. A busy week for I.P.O.s is expected to see companies raise more than $4 billion, including more than $1 billion for Playtika and debuts for Affirm, Petco and others.