Published: July 30, 2011
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.’”
Business Roundtable (BRT) is an association of chief executive officers of leading U.S. companies with nearly $6 trillion in annual revenues and more than 13 million employees. BRT member companies comprise nearly a third of the total value of the U.S. stock market and invest more than $114 billion annually in research and development – nearly half of all private U.S. R&D spending. Our companies pay more than $179 billion in dividends to shareholders.
BRT companies give nearly $9 billion a year in combined charitable contributions.