This morning, Business Roundtable CEO Joshua Bolten joined CNBC’s “Squawk Box” to applaud the President and Speaker for achieving bipartisan agreement on legislation to raise the debt ceiling and to urge Congress to pass the bill in the next week.
Watch the full interview online HERE or click on the image below.
Topline Quotes:
- “[T]here’s no doubt that it was absolutely necessary to reach this agreement and it’s absolutely necessary that it pass the House and the Senate in the next week.”
- “There’s something really important happening down here in Washington and that is the debt ceiling bill is on the table. That’s what the business community really wanted is get a deal, get the debt ceiling off the table and out of the way. … That’s super important overall for the economy. That’s super important for business confidence and it’s super important for the United States and the dollar.”
- “I thought the negotiation was well handled by both the Speaker and the White House. … and now we’re putting our shoulder behind trying to help them get the votes to get it across the finish line.”
- “[T]hey put in place a mechanism that [incentivizes] Congress to pass all the appropriations bills on time. In fact, the mechanism they put in place is pretty clever that it reduces the overall amount of money available if Congress is not able to pass individual appropriations bills and that’s a really good government thing. … We were particularly pleased to see that process reform.”
Once an agreement was announced over the weekend, Bolten issued a statement of support urging Congress to quickly pass the legislation. Notably, Bolten stated, “In addition to raising the debt ceiling, this agreement takes steps toward putting the U.S. on a more sustainable fiscal trajectory. This deal also makes a down payment on permitting reform, helping to clear the path for new energy infrastructure projects.”
For more information on Business Roundtable’s efforts on the debt ceiling, click HERE.