SIFMA and Other Trade Associations Urge Congress to Raise Debt Ceiling

SIFMA and other trade associations (together, the "Associations") submitted comments to the U.S. Congress urging the Members to raise the federal debt limit.

In the letter, the Associations stated that if the President and Congress fail to raise the debt limit, the Treasury will be unable to meet government obligations coming due which would "trigger a series of events that would inevitably lead to American taxpayers paying more to finance our debt."

SIFMA signed the letter with eight other agencies, including the American Bankers Association ("ABA"), the American Insurance Association ("AIA"), the U.S. Chamber of Commerce, the Consumer Bankers Association ("CBA"), Financial Services Forum ("FSF"), the Financial Services Roundtable ("FSR"), the Independent Community Bankers of America ("ICBA"), and the Investment Company Institute ("ICI").

See: SIFMA Letter to Congress.