The U.S. Chamber of Commerce on Thursday warned Congress: Businesses are \u201cfed up\u201d with gridlock.
\nThe nation\u2019s largest business lobbying group made it clear, during its annual conference, that corporate America wants results out of a divided legislative branch, encouraging bipartisan breakthroughs on immigration, permitting, the debt ceiling and other key issues.
\nThe message comes as lawmakers worry that the\u00a0Senate and House will struggle to reach consensus\u00a0on must-pass spending bills, let alone bolder legislative efforts.
\n\u201cThe polarization, the gridlock, the overreach, and the inability to act smartly and strategically for our future is making it harder for all of us to do our jobs, fulfill our roles, and move this country forward,\u201d U.S. Chamber CEO\u00a0Suzanne Clark\u2002said.
\nBusiness lobby fears debt ceiling crisis
\nThe debt limit came up throughout the Chamber\u2019s conference, highlighting the business community\u2019s concern about the prospect of a historic default that would devastate the U.S. economy.
\nSpeaker\u00a0Kevin McCarthy\u2002(R-Calif.) has pledged to couple any debt limit increase with spending cuts as part of his agreement with GOP opponents to win the gavel, raising the risk of a dangerous standoff later this year.
\n\u201cWe had dinner with a bunch of business leaders and our board members last night talking about their priorities. And there was fear, empathic emotion around the need to not default on our debt, to not play chicken with the true faith and credit of the United States,\u201d Clark told reporters.
\nStill, Chamber officials said they share Republicans\u2019 concerns about the national debt and pointed to potential overhauls to entitlement programs.
\n\u201cThis isn\u2019t some binary choice. We can find a way though bipartisan solutions for both, and the consequences for failing to do so have to be unacceptable to everyone,\u201d\u00a0Neil Bradley,\u00a0the Chamber\u2019s top lobbyist, told reporters.
\nThe U.S.\u00a0is\u2002rapidly closing in\u2002on its $31.4 trillion\u00a0borrowing limit. As soon as this month, the Treasury Department will have to take \u201cextraordinary measures\u201d to free up cash and pay borrowers, measures that will likely last until July or August.
\nIn an interview with the Chamber\u2019s Evan Jenkins, a former GOP congressman, Rep.\u00a0David Joyce\u2002(R-Ohio) called his caucus\u2019s debt limit strategy \u201cdisconcerting.\u201d<\/p>\n