Big business groups are rallying behind President Biden’s deal to raise the debt limit, with McCarthy giving more political momentum to the legislation as he encouraged skeptical members of the GOP conference to support the bill.
“Federal leaders should use this opportunity to curb out-of-control spending so as not to simply pass the issue on to future generations. US Chamber of Commerce President and CEO Susan P.
Business Roundtable CEO Joshua Bolton called on Congress to pass the bill immediately.
“The Business Roundtable strongly supports an agreement between the administration and Congress to prevent catastrophic debt. We applaud President Biden and Speaker McCarthy for reaching a bipartisan solution to raise the debt ceiling and urge the House and Senate to pass this legislation as soon as possible,” he said.
The support of the nation’s two largest business groups bolsters Republican support for the bill, which has been criticized by conservatives who say it doesn’t do enough to reduce the deficit.
“Supporting legislation that threatens our nation’s financial future is an insult to the American people,” said Rep. Matt Rosendale (R-Mont.).
Rep. Chip Roy (R-Texas) slammed it as a “turd sandwich” and Rep. Ralph Norman (R-Texas) called it “crazy.”
“We will not vote our country for failure. The American people deserve better,” Norman tweeted.
But McCarthy said the bill would have the support of 95 percent of his constituents.
Conservative House members are trying to defeat the bill and argue it has broad support in the GOP conference.
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