The U.S. Chamber of Commerce (USCOC) launched its #LetsGrow Tour with an event in Chicago last week, where USOC President and CEO Thomas Donahue outlined a pro-growth agenda, urging lawmakers to prioritize economic growth.
“Some of the loudest voices in the debate over our financial system have forgotten, ignored, or obscured the fact that capital markets are ultimately about growth—that they are the lifeblood of our economy,” Donahue said.
Donahue cited specific reforms to the financial services industry that lawmakers should pursue including: restructuring of the U.S. regulatory system, reforming Federal Reserve regulatory processes, and pursuing fixes that would restore lending to small businesses.
The event was held in collaboration with the Illinois Chamber of Commerce and Illinois Gov. Bruce Rauner. The USCOC tour will also make stops in Baton Rouge, Louisiana; Phoenix, Arizona; Atlanta, Georgia; Detroit, Michigan; and Washington, D.C.
“All U.S. businesses—from Fortune 500 to Main Street shops to nimble startups—need access to short and long-term capital, liquidity, and risk management tools to operate,” Donahue said. “Most can’t survive, let along grow, without it. And our economy can’t grow without them. We’ve got to restart the growth engine, and we’ve got to fuel it with capital, and all the financial products and services that businesses and consumers alike rely on.”
State and local chambers of commerce will play an important role in facilitating a nationwide conversation on facilitating economic growth, Donahue said.
“The Illinois Chamber is working for progress, especially for modern policies and regulatory structures that will improve Illinois’ climate for investment and access to capital. We want an Illinois that can be recognized as a great place to do business and create jobs,” Todd Maisch, Illinois Chamber of Commerce president and CEO, said.