The Senate passed sweeping financial reform legislation last night, aimed at keeping the financial sector from collapsing as it did in 2008. The final vote was 59-39, with four Republicans joining the majority party to get the bill through. Two Democrats remained opposed to the bill, saying the Senate measure didn't include tough enough regulations.
Republican Senators Olympia Snowe and Susan Collins from Maine, Chuck Grassley from Iowa, and Scott Brown from Massachusetts all voted yes, with Grassley saying that this bill sends a message to Wall Street.
"There’s no question this bill has flaws," Grassley said. "Big ...
After a second procedural vote this afternoon, the Senate was able to shut down debate on S. 3217, Restoring American Financial Stability. Exactly three-fifths of the senate, including 3 Republicans, voted in favor of the motion, which passed 60-40. Two Democrats voted no.
It is likely that the final vote on the bill will be as early as tomorrow.
The newly elected senator from Massachusetts, Scott Brown, joined the two Republican Senators from Maine, Olympia Snowe and Susan Collins, in delivering yes votes. In a statement, Brown said he was assured by Sen. Reid, D-Nev., that “the issues related to ...
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Every week I climb into the depths of the local political blogosphere to find the Sunlight. I use this series to highlight local blogs that do a great job of convering local, state, and Congressional political news. This week I have highlights from Arizona, Indiana, Maine, Nebraska, and South Dakota.
The House Republicans are having a tough time figuring out reform proposals that they can agree on, according to Roll Call. After an indecisive meeting during the Republican weekend retreat House Republicans plan to meet again this week to work out a set of proposals. New Majority Leader John Boehner (R-OH) is “in no hurry to bring a reform package to a vote.” The Senate Republicans may force the hand of the House as Sen. Susan Collins (R-ME) “aims to mark up a bill in the Homeland Security and Governmental Affairs Committee by the end of the month.”Continue reading