The Republican-controlled House passed a measure suspending enforcement of the debt limit until May 18. The action averts a government shutdown and a possible default on debts. However, questions remain about how much repeated battles over the debt limit affect the economy. "Continual short-term extensions of the limit create unnecessary market uncertainty and raise questions about our nation's credit-worthiness," said Kenneth E. Bentsen Jr., SIFMA's executive vice president. Read SIFMA's statement on the issue.

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