The American Bankers Association today joined 15 associations representing a wide range of industries in urging lawmakers to end the government shutdown, noting that it is imposing “real, escalating costs” on the U.S. economy.
The current shutdown began Oct. 1, and lawmakers have made little progress in reaching a deal to end the standoff. In a joint statement, the associations pointed to public estimates indicating that the current lapse in federal funding has resulted in $10 billion to $15 billion per week in lost output and economic activity.
“Among many other impacts, each day the government remains closed increases the permitting backlog for major infrastructure projects,” they said. “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,” the groups added. “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.”
In addition to ABA, the associations that joined the statement are Airlines for America, 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.
