Washington, D.C., July 31, 2019 – SIFMA today released the following statement from SIFMA president and CEO Kenneth E. Bentsen, Jr., expressing strong support for Senate passage of a bill to suspend the debt limit through July 2021. The House passed the legislation on July 18.

“SIFMA commends Congress for taking quick action to suspend the debt limit. It is critically important the United States stands fully behind its obligations. A failure to act would have had  negative and lasting results on domestic and global markets and Main Street investors. SIFMA applauds the President and Congress for working together to resolve the threat of the U.S. defaulting on its debt. The President’s support will ensure that the confidence in the creditworthiness of the United States will be preserved.”

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SIFMA is the leading trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. On behalf of our industry’s nearly 1 million employees, we advocate for legislation, regulation and business policy, affecting retail and institutional investors, equity and fixed income markets and related products and services. We serve as an industry coordinating body to promote fair and orderly markets, informed regulatory compliance, and efficient market operations and resiliency. We also provide a forum for industry policy and professional development. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA). For more information, visit http://www.sifma.org.