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Business Leaders Pressure Action on "Fiscal Cliff"
Lead by JPMorgan Chase CEO, Jamie Dimon, 15 of the country's largest businesses pressed President Obama and Congressional leaders to act on the "fiscal cliff" (expiration of all '01, '03, '10 tax cuts) before December 31, 2012.
From the letter:
“Another downgrade of our nation’s debt by a major rating service . . . could lead to significantly higher interest rates,” the financial services executives wrote in their letter Thursday. “Higher interest payments would worsen our nation’s fiscal burden and likely increase uncertainty and instability in global financial markets.”
The full letter can be read, here.