Exclusive: Tech groups urge Congress to raise the debt ceiling

• Staff-level talks are ongoing, and the U.S. could face a default as soon as the start of next month.

What they're saying: ACT | The App Association, the Information Technology Industry Council, and the Semiconductor Industry Association were among the groups that signed the letter sent Thursday.

• "Continued threats of default undermine the stability of the economy, undercut U.S. global competitiveness, and directly impact U.S. workers," the letter states.
• “A historic default on our nation’s debt would result in serious harm and unprecedented consequences for Americans across the country, impacting everything from car and home loans to student debt to the interest we pay on our credit cards," TechNet CEO Linda Moore said in a statement to Axios.

Editor’s note: This has been updated to reflect Friday’s planned debt meeting between Biden and congressional leaders was postponed.