WASHINGTON – Today, a broad cross-section of business associations issued the following statement:
“Government shutdowns impose real, escalating costs. While exact figures vary, public estimates of the current funding lapse suggest $10 billion–$15 billion per week in lost output and economic activity. The longer the shutdown persists, the larger and more durable the economic damage becomes — and some of it could never be recovered.
“Among many other impacts, each day the government remains closed increases the permitting backlog for major infrastructure projects. The nation’s air traffic control system and its workforce are also showing signs of stress.
“We urge Congress to swiftly pass a clean continuing resolution to reopen the federal government. Immediately reopening the government would avert further economic disruption and give Congress and the Administration time to negotiate a longer-term funding package and address other pressing issues.”
The statement was issued by 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, National Retail Federation, the U.S. Chamber of Commerce and U.S. Travel Association.
About NRF
The National Retail Federation passionately advocates for the people, brands, policies and ideas that help retail succeed. From its headquarters in Washington, D.C., NRF empowers the industry that powers the economy. Retail is the nation’s largest private-sector employer, contributing $5.3 trillion to annual GDP and supporting more than one in four U.S. jobs — 55 million working Americans. For over a century, NRF has been a voice for every retailer and every retail job, educating, inspiring and communicating the powerful impact retail has on local communities and global economies. nrf.com
