WASHINGTON -- Fix the Debt, a coalition of business executives and policymakers advocating for sweeping deficit reduction, will release its first television ad Sunday, marking a new phase in the group’s efforts to influence the fiscal debate.
Formed five months ago as an offshoot of the Center for Responsible Budget Priorities, the nonprofit group has assembled a roster of influential politicians—including Los Angeles Mayor Antonio Villaraigosa and New York City Mayor Michael Bloomberg--and major business leaders.
Members of the group regularly take to op-ed pages and cable news to urge a deficit reduction deal that brings in new revenue, cuts spending and includes major reform to social programs like Social Security and Medicare. They also have visited the White House and Capitol Hill.
The group has chapters operating in 17 states, and is backed by a reported $43 million war chest, seeded mainly by corporate donations.