New York CNN —Leading business groups are praising President Joe Biden and House Speaker Kevin McCarthy for forging a bipartisan agreement to raise the debt ceiling, and they are calling for Congress to pass the legislation before the government suffers a devastating default. “With the US at risk of defaulting in less than 10 days, there is no time to spare. The gravity of this moment cannot be overstated,” said Clark, who added the Chamber will consider this a “key vote” for lawmakers. The National Association of Manufacturers, the largest manufacturing trade group in the nation, congratulated Biden, McCarthy and their lawmakers for reaching an agreement. Party leaders in Washington are working furiously Monday to convince holdouts to back the compromise legislation that would avert default.

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