SIFMA Statement On Senate Passage Of Debt Limit Suspension

SIFMA today released the following statement from Kenneth E. Bentsen, Jr., executive vice president, public policy and advocacy in response to Senate-passage of a bill that would suspend the nation’s debt limit through May 18. The House previously passed the legislation on January 23.

“SIFMA commends the Senate for taking quick action to suspend the debt limit. Congress and the Administration should ensure that our country never defaults on our obligations. Addressing the debt limit, for even a short period, brings a certain amount of certainty to the markets.

“As the Administration and Congress move to adopt a budget and address our nation’s fiscal situation, it will be imperative to deal with the debt limit on a more long-term basis. Continual short-term extensions of the limit create unnecessary market uncertainly and raise questions about our nation’s credit-worthiness.”