CEO DATELINE - Associations warn government shutdown could be costly
CEO DATELINE - Associations warn government shutdown could be costly
- January 2, 2019 |
- Walt Williams
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Associations are urging political leaders to end the partial shutdown of the federal government, warning that a sustained shutdown could have negative economic consequences for various industries.
President Donald Trump and Democratic leaders remained locked in a standoff about funding for a wall along the U.S.-Mexico border as of Wednesday. While the shutdown does not affect all of government, several agencies furloughed workers Wednesday after their temporary funding ran out.
The National Marine Manufacturers Association issued a statement calling for an end to the shutdown. The group singled out the closing of Department of the Interior and the Department of Commerce, both of which are crucial for fishing and recreational boating.
"As a result of the shutdown, both agencies have furloughed a significant chunk of their workforce," NMMA said. "Furthermore, the shutdown has restricted access to the nation's public lands and waters and imperiled important funding aimed at calculating the positive economic contributions of boating and fishing."
The National Association of Realtors estimates 40,000 homes will be left unsold for each month the shutdown continues, CBS News reported. The reason? Slower economic growth if Federal Emergency Management Agency employees remain off the job and are unable to approve flood insurance, which is key for home sales. https://cbsn.ws/2F27gri
The closure of the Alcohol and Tobacco Tax and Trade Bureau, a bureau of the U.S. Department of the Treasury, has the beer industry concerned, according to the news site Brewbound. Alcohol companies can still use the agency's website to conduct business but no employees are available to answer questions while the shutdown remains in effect.
"We hope members of Congress and the President negotiate a swift end to this government shutdown so the TTB and other agencies that impact the beer industry get back up and running [and] so Americans can continue to enjoy innovations in their favorite alcohol beverage—beer," Jim McGreevy, CEO the Beer Institute, told Brewbound in a statement. http://bit.ly/2s7U64c
The Professional Services Council, which represents government contractors, established a "government shutdown resource center" on its website for members. The Aerospace Industries Association urged lawmakers to reopen government "as quickly as possible."
"Essential science, space exploration, and air traffic control modernization work is being delayed, decreasing industry's ability to invest in our nation's future," AIA CEO Eric Fanning said. "This is no way to run a business—or a government."
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