Posted May 30, 2023

NAW urges swift passage of Fiscal Responsibility Act 

The National Association of Wholesaler-Distributors (NAW) which represents the 8.2 trillion-dollar wholesale distribution industry, issued the following statement today after the announcement of a debt ceiling deal between President Joe Biden and House Speaker Kevin McCarthy (R-CA):

“Distributors are pleased to see our nation’s leaders put country ahead of party and come together on a deal to raise the debt ceiling, reduce spending, and reform the federal government, said NAW President and CEO Eric Hoplin. This is a critical moment for America and default is not an option. Our nation cannot outrun the consequences of irresponsible spending now or in the future and cannot delay the passage of this critical legislation. Time is of the essence as we approach this week’s final vote and now is the moment to pass the Fiscal Responsibility Act without delay and send it to President Biden’s desk to be signed into law.

“The Fiscal Responsibility Act would not only raise the debt ceiling, and reduce out-of-control spending it will also help lift Americans out of poverty and ease the current workforce shortage while avoiding new tax increases originally proposed by the President’s budget that would have harmed small businesses, workers, and families at a time of economic uncertainty.

“While distributors are encouraged to see an agreement finally come together, it is disappointing that lawmakers and the Administration came so close to hitting the debt ceiling and did not begin negotiations until House Republicans passed a bill last month. We have been here before and should aim never to approach the fiscal cliff in this manner again. America deserves responsible and thoughtful leadership from our government, and its elected officials,” concluded Hoplin.