National ACE Statement on the Debt Ceiling

National ACE urges Congress to work with the Administration to raise the debt ceiling to prevent immense economic hardship for the nation's 2.6 million AAPI businesses and entrepreneurs. Defaulting on the debt would result in an immediate interruption to federal aid, loans, and contracts that small businesses rely on to carry out daily business and cannot afford to be put on hold. It would become more expensive and difficult for businesses, especially minority owned businesses, to borrow money for their businesses and would mean the loss of crucial revenue streams for those relying on federal contracts. We strongly urge Congressional leadership and the Administration to move quickly to raise the debt ceiling and avoid preventable financial hardship.