ICYMI: Business Roundtable Sends Letter Urging Congress to Swiftly Address the Debt Ceiling

Today, Business Roundtable sent a letter urging Congress to act swiftly to address the statutory debt ceiling, emphasizing that "Congress has the authority to lift the debt ceiling to safeguard the full faith and credit of the United States—and the responsibility to do so."

The leaders warn: "Failure to lift the U.S. federal debt limit to meet U.S. obligations would produce an otherwise avoidable crisis and pose unacceptable risk to the nation's economic growth, job creation and financial markets. An extended period of uncertainty around the debt ceiling poses an even higher risk than usual as America continues to confront economic risk from the pandemic."

Business Roundtable's board of directors includes Apple's Tim Cook, Best Buy's Corie Barry, General Motors' Mary T. Barra and Dow's Jim Fittlerling. Business Rountable joins a growing list of economic leaders and organizations to call on Congress to raise the debt limit and avoid economic damage, including the Amazon CEO Andy Jassy, Center for American Progress, Goldman Sachs, JP Morgan, and leading trade groups in the banking and financial services industry, among others.