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As the deadline for the debt ceiling negotiations approaches, a growing sense of unease is spreading throughout the business community.
Microsoft, one of America’s largest and most influential companies, is among those urging for a resolution. General Counsel Brad Smith shared his concern, emphasizing the importance of bipartisan compromise to avoid financial instability.
“We’ve been closely following the situation, and like most Americans, we’ve been hopeful that a resolution will emerge,” Smith told POLITICO. “However, with each passing day and the deadline drawing closer, there is an increasing sense of nervousness within the business world.”
Microsoft is just one of many businesses voicing their hope that leaders will come together to find a solution.
The delay in the debt ceiling talks has already started affecting investor confidence. U.S. stocks took a dip earlier this week, signaling that patience is wearing thin, and anxiety is mounting over the possibility of a deal falling through.
Smith, who is in Washington this week to testify at a Senate Judiciary Committee hearing on high-skilled immigration, underscored the urgency of the situation for businesses across the country.
“The most critical thing for companies like ours is to encourage compromise,” Smith said. “The business community needs a path forward — one that unites both sides and moves the country ahead.”
As the deadline looms, the stakes are high for businesses, investors, and the broader economy, all of whom are looking to Washington for the leadership needed to secure a resolution.