Washington – “Business Roundtable is gratified that the House passed legislation to lift the debt limit and cut federal spending. Now the onus is on the Senate to act.”

“Business expects any further negotiations to keep this overriding goal in mind: raise the debt limit to prevent the economic consequences of a default on U.S. obligations,” said John Engler, President of Business Roundtable, an association of chief executive officers of major U.S. companies.

“As the letter sent to President Obama and members of Congress by Business Roundtable’s Executive Committee today stated: ‘There is no more time for delay. Inaction has unacceptable consequences.’”