Despite the constant drumbeat from Republican budget committee chairman Rep. Paul Ryan and others about how tax hikes will hurt the economy, America’s business leaders know better.
The Committee for Economic Development, a nonprofit, nonpartisan group of business executives and education leaders, today issued a statement urging Washington to consider both tax increases and spending cuts to get the federal deficit under control.
More than 100 top current and retired corporate execs signed the CED statement, including William Donaldson, Chairman, Donaldson Enterprises and former Chairman, U.S. Securities and Exchange Commission; Peter Peterson, a co-founder of The Blackstone Group; Michael G. Morris, Chairman, President and CEO, American Electric Power Co.; Edward B. Rust, Jr., Chairman and CEO, State Farm Insurance Companies; and George Conrades, Executive Chairman of Akamai Technologies Inc.
CED statement: Business Statement on the Nation’s Fiscal Health
Forbes: Execs say deficit fix should include tax hikes as well as spending cuts