The vigorous support of the nation's business leaders for the Bipartisan Budget Act appears to have had an influence, as the legislation moves toward final passage in the Senate.
The Senate voted 67--39 this morning to invoke cloture on H.J.Res. 59 (which the Ryan-Murray budget agreement was amended into), and vote on final passage is expected Wednesday. Last Friday, the House voted 332-94 to pass the measure, an unexpectedly strong measure of support that drew supermajorites from both parties.
Business Roundtable CEOs have pressed hard for enactment of the budget agreement to prevent a repeat of the earlier government shutdown and the economically disruptive conflict over the debt ceiling. As Randall Stephenson, Business Roundtable's chairman-elect and Chairman and CEO of AT&T Inc., wrote Senators Monday:
The long-term business investment needed by our country simply will not occur in an environment of fiscal instability. The Ryan-Murray budget legislation, while not perfect, offers stability and the opportunity for the U.S. government to once again operate responsibly within the confines of an approved budget. It is both balanced and fiscally responsible. We are confident that if enacted it would help provide a platform for greater investment, job creation, and growth.
BRT's arguments also stressed the value of bipartisan cooperation and a return to regular order in Congress. During the House debate, Louis Chênevert, chairman and chief executive of United Technologies Corporation and chairman of BRT's tax and fiscal policy committee, said:
This budget agreement is significant for every American because it shows that both sides in Congress can work together on the big issues that matter most to getting our economy growing faster and more business investing and hiring with confidence. “The agreement provides a foundation for tackling issues critical to US economic growth, as well as providing predictability and certainty for federal government funding for two fiscal years. Without this agreement, American workers, families and businesses would continue to face the risk of an economically damaging government shutdown.
The advocacy for the agreement by Business Roundtable and other business groups drew wide notice by reporters covering the budget debate. A roundup:
- New York Times, "Senate Ends Budget Debate, Clearing Way for Passage"
- Los Angeles Times, "Budget deal appears to have enough GOP support to clear Senate"
- Bloomberg, "Budget Deal Lauded by Lawmakers Belies U.S. Fiscal Rigors"
- Associated Press, "Budget deal easily advances toward final passage in Senate"
- The Hill, "Business Leaders Urge Senate to Pass Budget Bill"
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