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Business, construction leaders urge quick resolution to looming debt ‘catastrophe’

May 11, 2023


Before agreeing to raise the debt ceiling, which the government needs in order to continue paying its bills, Republicans want an agreement to cut spending. Meanwhile, Democrats want a “clean increase” on the debt limit before addressing a framework for spending, according to AP News.

The U.S. Chamber of Commerce, the largest business group in the country, backed spending limits and process reform as part of a debt ceiling deal.

“The full faith and credit of the United States government should never be placed at risk, which is why it is essential that Congress and the administration quickly reach a bipartisan agreement to raise the debt ceiling,” Chief Policy Officer Neil Bradley said in a statement on Tuesday.

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