Corporation Lobbiest Hard At Work - Make Americans pay down the Debt not Corporations!

Congress hears outcry from business lobby on debt ceiling and deficit

Washington Post -By Jia Lynn Yang and Dan Eggen, Published: July 12

A sprawling coalition of Wall Street and Main Street business leaders sent an unmistakable message to lawmakers Tuesday: Enough squabbling. Get the debt ceiling raised.

 

The message, sent in a letter to President Obama and every member of Congress, puts pressure on GOP lawmakers, who have staked out an uncompromising stance against raising taxes in the partisan wrangling over the country’s borrowing limit.

 

Republicans rely heavily on corporations for political support and have regularly cited the opinions of these “job creators” in their opposition to new tax revenue. Many of the House GOP freshmen most opposed to a compromise were swept into office with the help of financial support from groups behind the letter.

 

But the business community, which has largely kept quiet on the issue until now, does not uniformly share the Republican orthodoxy on taxes, according to some lobbyists who helped craft the statement.

 

The letter conspicuously avoided any mention of tax revenue partly because of differences of opinion among executives over whether to compromise on taxes to get a deal done, said a senior industry lobbyist, who spoke on the condition of anonymity because the internal deliberations were private.

 

“The debt default would be exponentially more painful than anything else,” said another senior executive at a major business lobbying group.

 

The letter, signed by hundreds of senior company executives and groups including the U.S. Chamber of Commerce and the Business Roundtable, said that “it is critical that the U.S. government not default in any way” and urges lawmakers “to put aside partisan differences and act in the nation’s best interest.”

 

“The business community in large numbers is saying to our leaders in Washington, ‘Do your job,’ ” said Business Roundtable President John Engler, a former Republican governor of Michigan. “Failure to raise the debt ceiling would strike an immediate and serious blow to any economic recovery, and failure to make significant progress on long-term debt reduction will continue the uncertainty which is hampering our investment climate.”

Republican lawmakers had a muted response to the business groups’ warnings. A spokesman for House Speaker John A. Boehner (R-Ohio) said Obama was to blame for the standoff and pointed to a House Republican proposal to slash tax rates and transform Medicare into a voucher program.

 

“We already voted for a long-term deficit reduction plan,” Boehner spokesman Michael Steel said in a statement. “Since the president is asking for the debt-limit increase, we’d like to see such a plan from him — but haven’t.”

 

The developments underscore the increasingly awkward marriage between corporate leaders and the ambitious House GOP freshman class, which has joined the business lobby in opposing Obama’s health-care law and financial regulations but has shown no sign of budging on the debt ceiling. Boehner and other Republicans abandoned White House talks over the weekend aimed at formulating a “grand bargain” of spending cuts and revenue increases before an Aug. 2 deadline, when the country would default on its debt.

 

Here are some comments from their readers:

 

LuvDCArea
Congress seems not to listen to voter, but they listen to business. Figures. Money talks.

 

 

Views: 97

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Doc Vega's 7 blog posts were featured
16 hours ago
tjdavis's 2 blog posts were featured
16 hours ago
Less Prone favorited tjdavis's blog post Track AIPAC
16 hours ago
FREEDOMROX's blog post was featured

MRNA VACCINES: Question

Hello my fellow sojourners,I know it has been five years since the Plandemic, but one question has…See More
16 hours ago
Less Prone favorited FREEDOMROX's blog post MRNA VACCINES: Question
16 hours ago
cheeki kea commented on cheeki kea's photo
yesterday
cheeki kea posted a photo
yesterday
Doc Vega posted blog posts
Friday
Doc Vega commented on Doc Vega's blog post Marjory Taylor Green Proposes Bill Abolishing Geoengineering or Weather Modification
"cheeki kea Marjory is in a daily battle with Democrats on the hill constantly coming up with more…"
Friday
Doc Vega posted blog posts
Wednesday
Mr. Sizzle favorited Less Prone's video
Wednesday
tjdavis posted a photo
Jul 15
Doc Vega posted a blog post

The Saga of Joe Adams May Have Solved What's Behind the Numerous Disappearances Going on in our National Forests

     The year is 2023 in September. A nature’s photographer and experienced survivalist, Joe Adams…See More
Jul 14
Sandy posted a video

Aron Siri's opening statement, Senate Hearing on Covid Vaccines, May 25

Opening statement Aaron Siri, Managing Partner, Siri & Glimstad, L.L.P.Senate Homeland Security and Governmental Affairs, Permanent Subcommittee on Investiga...
Jul 14
cheeki kea replied to cheeki kea's discussion Tartaria
"A smidgeon of facts have come to light. In English a misspelling suddenly occurred where an extra R…"
Jul 14
Doc Vega posted a blog post

The Cancel Culture Vulture

  Better to shut them down than hear their point of viewCancel culture coming after youHelping to…See More
Jul 12
Doc Vega posted a photo
Jul 11
Doc Vega posted a blog post

The Fingerprint

The Fingerprint On a dance with the unpredictability of the signals you sendA solemn pact with my…See More
Jul 11
Sandy posted a video
Jul 11
tjdavis posted a video
Jul 9

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted