"Virginia's business community is sending a unified message that uncertainty in Washington is and will continue to be harmful to Virginia's economy." Barry DuVal, President and CEO, Virginia Chamber of Commerce
Richmond, Virginia (PRWEB) October 10, 2013
Today, the Virginia Chamber of Commerce, joined by 21 Chambers of Commerce from across the Commonwealth, signed a letter to Virginia’s Congressional delegation urging members to work together to reach a deal on the pending passage of a budget, as well as to act expeditiously to raise the nation’s debt limit. In the letter, the Chambers highlight the negative impact that these two issues will have on Virginia’s business community and on the economy as a whole.
“With such a significant portion of Virginia’s economy tied to federal spending, the risk for damage to the Commonwealth’s economy is especially high,” said Barry DuVal, President and CEO of the Virginia Chamber of Commerce. “Virginia’s business community is sending a unified message that uncertainty in Washington is and will continue to be harmful to Virginia’s economy. We urge our leaders to work with others to pass a budget and raise the debt limit.”
In the letter, the Chambers state: “We understand the importance of restraining federal spending to reduce budget deficits, contain the growth of federal debt, and thereby re-establish fiscal discipline in the near-term and for the long haul. However, it is not in the best interest of the business community or the American people to risk further harm to an already fragile economy. Virginia’s economy is especially susceptible to damage, with approximately 30 percent of the Commonwealth’s economy tied to federal spending... The federal government must resume its normal operations. Likewise, we respectfully urge Congress to raise the debt ceiling in a timely manner and remove any threat to the full faith and credit of the United States government.”
To view the letter and the full list of signatories, visit http://www.vachamber.com.
The Virginia Chamber of Commerce is the state’s largest business advocacy organization with more than 14,500 members. As the voice for business, the Chamber works in the legislative, regulatory and political arenas to act as a catalyst for enhancing Virginia’s economic competitiveness and pro-business climate.