U.S. Chamber Response to Final Passage of Bipartisan Agreement on Debt Ceiling

‘While Far From Perfect, This Bill Begins The Process of Getting America’s Fiscal House In Order And Was Necessary to Avoid Default,’ Says Donohue

WASHINGTON, D.C.—U.S. Chamber of Commerce President and CEO Thomas J. Donohue issued the following statement today regarding the Senate vote on the bipartisan agreement to raise the debt ceiling and reduce spending:

“The White House and Congress did the right thing by passing bipartisan legislation to cut federal spending and raise the debt ceiling. While far from perfect, this bill begins the process of getting America’s fiscal house in order and was necessary to avoid a default that would have resulted in an economic catastrophe. There is still much to be done to fix the country’s long-term debt and deficit problems—including reforming the tax code and bending the curve of entitlement spending—and this bipartisan legislation moves us closer to achieving those goals. We look forward to working with Congress to reduce spending, grow the private-sector economy, and create jobs.”

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.

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