The Salt Lake Chamber recognizes that failing to raise the debt ceiling and to constrain federal government spending will have negative impacts on our national economy and unintended consequences on every Utah business. As such, Derek Miller, president and CEO of the Chamber, sent a letter to Utah’s Members of Congress urging them to do all they can to find a bipartisan solution that can address both problems. That letter reads in part:
“As business leaders, we recognize the need to meet financial and debt obligations that have already been incurred. We also understand the need for any organization to live within its means and consequently constrain out-of-control spending within the federal government. An approach that marries these principles is necessary for our nation’s future prosperity.”
In addition, the Chamber sent a letter to Governor Cox and Utah’s legislative leaders advocating for them to create a contingency plan that reads in part:
“Business leaders understand well the wise adage ‘to hope for the best and plan for the worst.’ To this end, we remain hopeful that reason will prevail and that our national officials will come together for the good of the country. At the same time, we respectfully urge you, as our state leaders, to create a contingency plan for how the State of Utah will continue its necessary functions and maintain our economy in the event negotiations break down and conditions for passage are not met.
“This planning effort will communicate Utah leadership at the state level and show our businesses and working families that you are prioritizing the economic well-being of our state and its citizens.”