Financial Overhaul Bill Near Passage

Democrats and Republicans appear to be working together and closing in on finishing a bill that would overhaul America's financial regulatory system. The ranking senator on the banking committee said they were "very close" to agreeing on important pieces of the legislation, the New York Times said.
Senate Banking Committee Chairman Chris Dodd told NBC's "Meet the Press" that they were continuing talks through the weekend on the legislation. The bill would essentially prevent future taxpayer bailouts of financial firms, Reuters said.
Republicans are expected to block the bill unless they can reach an agreement by then. Democrats say that if Republicans block the bill on Monday, it will just delay the legislation rather than kill it. Democrats need at least one Republican to vote for the bill so they can get the required 60 votes needed to start debate.

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This page contains a single entry by brayx063 published on April 25, 2010 3:30 PM.

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