Some in GOP not heeding old big business allies

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Associated Press

Posted on October 2, 2013 at 1:36 AM

Updated Wednesday, Oct 2 at 6:52 AM

WASHINGTON (AP) — Business leaders have failed to persuade their traditional Republican allies in Congress to avert a government shutdown. And they fear that bigger problems lie ahead.

That's driving business leaders to take sides with a Democratic president whose health care and regulatory agenda they have vigorously opposed.

President Barack Obama is embracing the business outreach. On Wednesday, Obama is set to host chief executives from the nation's 19 biggest financial firms.

The U.S. Chamber of Commerce has sent a letter to Congress signed by about 250 business groups urging no shutdown and warning against a debt ceiling crisis.

The partial closing of the government and the looming confrontation over the nation's borrowing limit highlight the remarkable drop in the business community's influence among House Republicans.

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