Ahead of an afternoon sit-down at the White House between President Joe Biden and congressional leaders, business groups are pressuring the two parties to cut a bipartisan deal to promptly resolve the ongoing debt limit standoff.
The business community is growing more vocal after last week’s surprise announcement from Treasury Secretary Janet L. Yellen that the debt ceiling must be raised or suspended as early as June 1 to avoid missed payments that could spark economic calamity.
In recent days, influential groups like the U.S. Chamber of Commerce, Business Roundtable, National Association of Wholesaler-Distributors and Retail Industry Leaders Association have weighed in urging lawmakers and the White House to put aside their differences. The groups’ rhetoric has varied somewhat.
