The Executive Committee of Business Roundtable, an association of chief executive officers of leading U.S. companies, today sent President Obama and members of Congress a letter pressing for immediate enactment of legislation to lift the debt ceiling and address the country's fiscal soundness.
"From our experience and with conviction we can tell you: inaction poses an unacceptable financial risk to the nation's economic growth and job creation," the CEOs stated. The letter emphasizes the risk that a government default on U.S. obligations poses to investment, job creation and global competitiveness.
"There is no more time for delay. Inaction has unacceptable consequences. We urge you in the strongest possible terms to enact legislation now that lifts the debt ceiling with a serious plan that puts America on a true path to a sound fiscal future," the letter concluded.
Business Roundtable (BRT) is an association of chief executive officers of leading U.S. companies with nearly $6 trillion in annual revenues and more than 13 million employees. BRT member companies comprise nearly a third of the total value of the U.S. stock market and invest more than $114 billion annually in research and development – nearly half of all private U.S. R&D spending. Our companies pay more than $179 billion in dividends to shareholders.
BRT companies give nearly $9 billion a year in combined charitable contributions.
Please visit us at www.brt.org, check us out on Facebook and LinkedIn, and follow us on Twitter.
Contacts:
Business Roundtable
Kirk Monroe, 202-496-3269
or
Joe
Crea, 202-496-3288