The evaporation of credit is affecting businesses of all sizes and consumers and we run the risk of further declines in housing values,” the letter said.
The coalition said that the lack of liquidity and credit was having a serious effect on all American businesses.
“If Congress fails to act and credit markets tighten further, our associations’ members will find it more difficult – if not impossible – to secure credit to run their companies, and our members’ employees will find it harder to get mortgages, secure auto loans, and borrow money to send their children to college,” the letter said.
The organizations noted that the future health of the economy is relying on quick passage of a robust plan to help prevent a complete freeze in the credit markets. “Americans rely on credit and liquid markets to make our economy function, and we will continue to see our economy and the well-being of all Americans impacted unless Congress acts,” the letter states.
To see a copy of the letter, click here: http://www.meatami.com/ht/a/GetDocumentAction/i/42567
Source: American Meat Institute