Kentucky Chamber Urges Swift Action on Federal Budget and Debt Ceiling
The Kentucky Chamber of Commerce joined the U.S. Chamber of Commerce, dozens of state and national business groups and more than 100 small business groups across the country to urge swift action to prevent a government shutdown and remove any threat to the full faith and credit of the United States government.
In the letter, the groups forcefully note the need for fiscal restraint and notes that entitlement spending is the main driver of the deficits and high debt levels. In addition, nearly all of these groups have and many continue to express concerns about the potential negative effects of the federal health reform law; however, during these tenuous economic times, the business groups strongly urge action to prevent government shutdown and to raise the debt ceiling to prevent a default that would be disastrous to the economy.
While the politics remain uncertain in Washington, Senator McConnell – no fan of the President’s health reform law – has expressed optimism that a funding bill will pass and prevent a government shutdown. In fact, he has argued that a government shutdown would not defund the Affordable Health Act, commonly referred to as Obamacare. We agree and encourage all members of Congress to take action to prevent the government shutdown and default on our national debt.
Once this hurdle is overcome, Congress can focus on entitlement reform, comprehensive tax reform, national immigration policy and addressing serious concerns with the implementation of the health reform law.