The Financial Services Roundtable and other representatives of big business are encouraging lawmakers to quickly approve the agreement to raise the debt ceiling. "S. 627 would immediately raise the debt ceiling and make discretionary spending cuts while providing a framework for future steps to reduce the budget deficit," said Steve Bartlett, president and CEO for The Financial Services Roundtable. "The failure to pass this legislation will have long-term negative and damaging effects on the American economy. Congress must act now."

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