An organization founded by Erskine Bowles and Al Simpson announced Tuesday that it has raised more than $25 million to launch a national campaign to encourage policy makers to pass debt legislation in the coming months.
The Campaign to Fix the Debt has collected contributions from corporate CEOs and others for a national media campaign and advertising campaign to urge lawmakers reach a solution to the debt crisis.
The organization was founded by Bowles, a Charlotte investment banker and former president of the University of North Carolina and Simpson, the former Wyoming senator, who headed a deficit commission appointed by President Barack Obama.
The Campaign to Fix the Debt is being chaired by former Sen. Judd Gregg and former Gov. Edward Rendell, a Republican and a Democrat.