NEC’s Jim Brett moderates deficit reduction discussion with Sen. Mark Warner

Warner urges business community to be engaged in deficit reduction efforts

Sen. Mark Warner and NEC Board Member Jim Mahoney of Bank of America.

Earlier this week, New England Council President & CEO Jim Brett moderated a deficit reduction roundtable discussion with Senator Mark Warner (D-VA). The meeting, hosted by Bank of America in Boston, included approximately 25 CEOs and other senior executives at NEC member companies, primarily in the financial services industry.

Sen. Warner, who served on the National Commission on Fiscal Responsibility and Reform, more commonly known as the “Simpson-Bowles Commission,” is meeting with groups of business leaders across the country in the coming weeks to discuss his work on the commission and engage the business community in ongoing efforts to reduce the federal deficit. The New England Council was honored to participate in the first such discussion.

In his opening remarks, Sen. Warner expressed his disappointment that President Obama did not adopt the recommendations of the Simpson-Bowles Commission. He acknowledged that the report was not perfect, but that it was a good product and its recommendations could have had a meaningful impact on deficit reduction.   The Senator explained that even though the Super Committee was not successful in making the necessary spending cuts, he and other leaders in Washington are not willing to wait for another crisis situation to take action, and urged the business community to be engaged in the process moving forward.

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