Businesses to Super Committee: Cut More
More than 150 business organizations sent a letter to the Divine Dozen today urging them to go big and slash more than the $1.5 trillion in federal spending called for by law. The U.S. Chamber of Commerce, Business Roundtable, the National Association of Manufacturers and others called for corporate tax and entitlement reform.
The message is nothing new, but rather another shot in the emerging battle over entitlement reforms, which pits business groups against organizations that represent seniors. And the entitlement protectors have already begun organizing and advertising against cuts to Medicare and Social Security.
The takeaway from today's letter:
Read the whole letter after the jump.We believe it is crucial to act expeditiously to rein in spending, reform the tax code, reduce the deficit, and stabilize and ultimately lower America's level of debt. Economic growth is critical to our nation's fiscal health, and we believe that these steps will remove the threat of fiscal instability, improve certainty, and create a sustainable foundation for economic and job growth in the years ahead.
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