Business Leaders Stay Behind Scenes Amid U.S. Fiscal Fight

As the debate strays from taxes and spending, executives refrain from public lobbying.

President Barack Obama and congressional Republicans share one piece of common ground in the stalemate over the budget and the debt ceiling: Neither side wants to budge.

U.S. business leaders are weighing in with their own message for the two parties: It’s not our job to save Washington from itself.

Debt Limit

The topic was a letter Lew sent to House Speaker John Boehner saying that the extraordinary measures being used to avoid breaching the $16.7 trillion statutory debt ceiling will be exhausted no later than Oct. 17.

Fiscal Deadlines

The deadlines are nearing. The government’s fiscal year ends Sept. 30 and Congress and the White House still haven’t agreed on funding federal operations beyond that. Republicans are trying to tie a budget resolution to stripping funding for the health-care law known as Obamacare, while the president and Democrats insist they won’t let that happen.

Page 1 of 3

Copyright 2016 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


Advertisement. Closing in 15 seconds.