“Government shutdowns impose real and increasing costs,” the joint statement said. “Although exact figures vary, public estimates of the current underfunding suggest between $10 billion and $15 billion per week in lost output and economic activity. The longer the shutdown persists, the greater and more lasting the economic damage will be, and some of it may never be recovered.”
A broad coalition of major US business associations has urged Congress to end the current government shutdown, warning that it is costing the economy up to $15 billion a week and causing lasting damage. The statement cited delays in infrastructure permits and strain on air traffic systems, putting pressure on lawmakers to pass a clean, continuing resolution to quickly restore government operations.
The coalition noted that the shutdown is deepening the permit backlog for major infrastructure projects and straining the country’s air traffic control system. “Every day that the government remains closed increases the backlog of permits for important infrastructure projects. The country’s air traffic control system and its workforce are also showing signs of stress,” the statement added.
“We urge Congress to quickly pass a clean, continuing resolution to reopen the federal government. Immediate reopening of the government would prevent further economic disruption and give Congress and the Administration time to negotiate a longer-term funding package and address other pressing issues,” the statement concludes.
The joint appeal was issued by a broad group of industry bodies, including Airlines for America, American Bankers Association, American Hotel & Lodging Association, Associated General Contractors of America, Association of Equipment Manufacturers, Business Roundtable, Financial Services Forum, Information Technology Industry Council, National Association of Home Builders, National Association of Manufacturers, National Association of Realtors, National Association of Wholesaler-Distributors, National Electrical Manufacturers Association, NRF, the US Chamber of Commerce and the Travel Association of USA
Fiber2Fashion News Desk (KD)
