Sen. Patty Murray (D-Wash.) and Rep. Paul Ryan (R-Wis.) delivered an early Christmas present to the U.S. business community Tuesday night: an $85 billion budget deal that keeps the specter of a government shutdown away until at least October 2015.
Key business associations in Washington, D.C., praised Murray and Ryan, calling on Congress to pass the budget the chairs of the Senate and House Budget committees hashed out in response to October's 16-day shutdown that shook the U.S. economy. The Business Roundtable and National Retail Federation officials said certainty on government funding through the agreement will boost confidence in the U.S. economy and propel growth at U.S. companies. The Business Roundtable represents more than 200 chief executive officers from major U.S. companies, while the National Retail Federation is the leading trade group for domestic retailers.
"This is an early and much needed holiday present for consumers and the businesses that employ and serve them every day in communities across the country," National Retail Federation president and CEO Matthew Shay said in a written statement.