Finance Bill’s Fate Uncertain in Senate

June 29, 2010 10:12

Call your legislators now! Tell them to vote no on this monstrous bill! 202-224-3121- The most sweeping overhaul of financial regulations since the 1930s is on a knife’s edge as Democrats scramble to secure the Senate votes needed to pass the legislation. Sen. Dodd said this bill ‘will effect every aspect of our lives’.


The death of Sen. Robert Byrd (D., W.Va.) robs Democrats of a vote to push the bill toward final passage. Another Democratic senator, who voted against an earlier version of the legislation, said Monday he wouldn’t support the final product either. And the late addition of a fee on banks and hedge funds to cover the cost of the legislation is roiling the few Republicans thought likely to vote for the package.

Democrats need to retain the remaining 57 Democratic and Independent senators and also win over at least three Republicans to meet the key 60-vote threshold needed to pass the bill. As of Monday, no Republican had committed to voting for the legislation.

Sen. Christopher Dodd of Connecticut, who’s charged with guiding the legislation through the Senate, said he “always” worries about having enough votes, but declined to answer further questions. “Let me do my work,” he said, before heading off to meet with Sen. Olympia Snowe, one of the Maine Republicans open to voting with Democrats.

Ms. Snowe was one of three Republicans who voiced disquiet about the fee, which could total $17.9 billion, according to a Congressional Budget Office estimate.


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