Committee for a Responsible Federal Budget

Business Roundtable and Partnership for New York City Urge Super Committee to Go Big

Oct 26, 2011

Two business groups today urged the Super Committee to not only approve of a deal before its deadline next month, but to also go beyond its mandate of $1.2 to $1.5 trillion in deficit reduction over the next decade and advance a more comprehensive approach.

From the national business group, Business Roundtable:

"While reaching the statutory goal of deficit reduction must be the priority, BRT encourages this Committee to 'go beyond' and provide recommendations to Congress outlining a multi-year growth and deficit reduction strategy."

We couldn't agree more. We have been urging the Super Committee to go beyond its mandate through our Go Big initiative. 

And from the Partnership for New York City's statement:

“A bipartisan deal that significantly reduces the budget deficit and results in a path to entitlement and tax reform will put this nation back on track,” said Kathryn Wylde, President & CEO of the Partnership for New York City. “It will send a powerful signal that partisan gridlock is finally giving way to real solutions that will improve the economy.”

Additionally, the Partnership, in a position statement, indicated their support for a two-stage process, something that Democratic Minority Leader Steny Hoyer (D-MD) seemed to also support recently. In the Partnership's statement, they note:

  • "Reach bipartisan consensus on $1.2 to $1.5 trillion in deficit reduction actions before the November 23rd deadline. This will send a strong message to employers and signal the markets that the country is getting its fiscal act together. It will represent the immediate action necessary to move the needle on hiring and investment.
  • Agree on a schedule and process for comprehensive reform of the tax code and for restructuring unsustainable entitlement programs, focusing on containment of the growth in health care costs and reduction of federal obligations under the Medicare and Medicaid programs."

These two letters, which join other statements and letters, are a continued reminder of the support for the Super Committee to Go Big and truly fix our fiscal problems.