The Hill News

Starbucks CEO Howard Schultz on Monday announced a new fund for job creation.

The "Create Jobs for USA" fund partners with Opportunity Finance Network, a collection of privately owned financial organizations, to help stimulate the U.S. economy through providing loans to communities and Americans with low income.

"Businesses and business leaders need to do more; we can't wait for Washington," Schultz said, according to Reuters.

Schultz's announcement follows recent comments he made in which he criticized legislators for putting politics ahead of "emergency" economic problems.

"What happens is they're concerned about their own ideology, reelection, and what I'm saying to them is this is a time where America needs to be represen! ted, not a singular focus on one constituent," said Schultz to CBS News in early September.

In August, Schultz called for CEOs to withhold making political donations until legislators reached bipartisan compromises on unemployment and debt reduction. Schultz's campaign won the support of 16,000 citizens. He also wrote a letter to Congress and President Obama pushing for bipartisanship.

"I think people realized more than ever before that there's a fract! uring in the level of trust and confidence in government. I th! ink peop le feel like they've been left behind," continued in the CBS News interview.

In the same interview with Reuters, Schultz said that he had no plans to run for office.

"I have no interest in politics or political office. I'm just doing this as a private citizen trying to make a difference," Schultz said.