Business Leaders Urge Supercommittee To Find $4 Trillion in Savings
WASHINGTON, Nov. 16, 2011 /PRNewswire-USNewswire/ -- Yesterday, a group of business leaders sent a letter to the members of the Joint Select Committee on Deficit Reduction (attached) asking them to exceed their mandate of finding $1.2 - $1.5 trillion in savings by recommending, instead, savings of $4 trillion or more through entitlement and tax reform.
Commenting on the letter, John Endean, president of the American Business Conference said:
“In terms of meaningful debt reduction, the Joint Select Committee on Deficit Reduction” is Congress’s last ‘at bat’ for the year.
“It whiffed on Bowles-Simpson, it whiffed in regard to the “Gang of Six,” and now we will see if it can manage something more than a scratch single with the ‘supercommittee.’
“If the ‘supercommittee’ fails to reach consensus, or if it recommends an anemic package of savings, there is no reason to think that anything more will get done before the 2012 election. By then, our Country’s financial situation may be beyond redemption. The time to make the hard choices – and the right choices – is now.”
November 15, 2011
The Honorable Jeb Hensarling |
The Honorable Patty Murray |
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Co-Chair, Joint Select Committee on |
Co-Chair, Joint Select Committee |
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Deficit Reduction |
on Deficit Reduction |
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129 Cannon House Office Building |
448 Russell Senate Office Building |
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Washington, DC 20515 |
Washington, DC 20510 |
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Dear Representative Hensarling, Senator Murray and Members of the Joint Select Committee on Deficit Reduction. As leaders in the business community, and more importantly, as Americans, we share the concern of our fellow citizens about our nation’s perilous, and worsening, fiscal condition. The Joint Select Committee on Deficit Reduction is in a unique position to alter the ruinous course we are now on. We urge you to seize this opportunity by exceeding your mandate of finding $1.2 - $1.5 trillion in savings by recommending, instead, savings of $4 trillion or more. Such a “go big” strategy of course involves: 1. moderating the growth of entitlement programs, and 2. increasing federal revenues via a tax reform plan that curtails loopholes in the code. You have an enormous responsibility and we pledge to support you in your effort to live up to it. Sincerely, |
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Robert Alves Chairman & CEO ASI Greg Bentley CEO, President & Chairman Bentley Systems Incorporated Toby Buck CEO & Chairman Paragon Medical Tom Caramanico President McCormick Taylor Inc Richard Daly CEO Broadridge Financial Solutions, Inc. John M. Dewey Managing Partner Dewey Companies, LP Douglas Donatelli Chairman & CEO First Potomac Realty Trust John Endean President American Business Conference William Forman President & CEO North Atlantic Industries Debi Gasper President/Creative Director The Ad Company Daniel Greenberg Chairman & CEO Electro Rent Corporation Jay A. Precourt Retired Chairman & CEO Hermes Consolidated Inc. Carlos Roca CEO Center for Disease Detection Barry Rogstad Former President American Business Conference |
John B. Benton Chairman TNS, Inc. John W. Brown Chairman Emeritus Stryker Corporation Stephen D. Harlan Potomac, MD Robert Keith Co-Founder & Managing Director TL Ventures Joseph W. Landers, Jr. Tallahassee, FL Matt Lawlor CEO onQ Corporation James Macaleer Malvern, PA James L. Mann CEO Steamboat Rentals Frank McKee CEO The McKee Group Dane Miller Founder Biomet, Inc. Marne Obernauer, Jr. Chairman Beverage Distributors Corporation Dayton Ogden Global Leader, CEO Succession Advisory Services Spencer Stuart Worldwide Ronald Tucker CEO & President Baldor Electric Company Alfred P. West, Jr. CEO & Chairman SEI Investments John Workman President Hudson Strategies, Inc |
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Identical letter sent to:
The Honorable Max Baucus
The Honorable John Kerry
The Honorable Jon Kyl
The Honorable Rob Portman
The Honorable Pat Toomey
The Honorable Xavier Becerra
The Honorable Dave Camp
The Honorable James Clyburn
The Honorable Fred Upton
The Honorable Chris Van Hollen
cc: The Honorable John Boehner
The Honorable Harry Reid
The Honorable Nancy Pelosi
The Honorable Mitch McConnell
SOURCE American Business Conference, Inc.
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