Washington - Business Roundtable CEO Joshua Bolten today released the following statement after the meeting between President Biden and congressional leadership:
“Business Roundtable is encouraged that the Administration and Congress have appointed key negotiators to continue discussions on raising the debt ceiling. With Secretary Yellen reaffirming that the U.S. could default as soon as June 1, we urge both sides to make substantive progress this week on legislation that avoids a default.
“There should be no doubt that defaulting on any of our nation’s obligations would cause widespread damage to our economy, leading to severe hardship for millions of American families. Time is of the essence, and we call on Congress and the Administration to reach an agreement that can pass the House and Senate as soon as possible.”