155 Business Groups Want Super Committee to Go Big

Today, a collection of 155 business organizations representing a wide variety of interests joined the "Go Big" call [3]. In doing so, they have joined 38 Senators and a whole host of other budget experts, former lawmakers, and business leaders who have also urged the Super Committee to exceed its savings mandate of $1.5 trillion.

Signatories of the letter include some of the nation's largest and most influential business groups, including the US Chamber of Commerce, Business Roundtable, and the National Association of Manufacturers.

Here's a selection from the letter [4]:

The undersigned organizations urge you, as a member of the newly appointed Joint Select Committee on Deficit Reduction, to go beyond the legislative mandate of the Balanced Budget Control Act of 2011 to achieve savings of $1.2 to $1.5 trillion to ensure that we stabilize our nation’s debt and put the debt’s share of the economy on a downward path. This is essential for long-term economic growth in our nation.

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.

Put simply, Congress must reform entitlement programs and comprehensively restructure the U.S. tax code.

We applaud these groups for calling for a comprehensive fiscal plan, and we are thrilled to see that support for the Super Committee to Go Big is growing by the day. Let's hope they're listening to all the voices who are looking for $3 to $4 trillion in deficit reduction.

Click here [4] to read the full letter and see a complete list of signatories.

Click here [5] to see CRFB's "Go Big" resource page.