Collins ‘Inclined’ To Support Wall Street Reform

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Scott Brown’s playing cute, but his fellow moderate Republican Susan Collins says she’s basically ready to vote for Wall Street reform.

“Based on my initial review of the conference review, I’m inclined to support it,” Collins told reporters this afternoon after a Senate vote. “I believe that it will improve the regulation of financial institutions and much needed transparency to the process, and that it will help prevent the kinds of risky practices that triggered this recession.Unlike most of her colleagues, she approves of a new method of paying for the legislation, which involves sunsetting the 2008 bailout program. “I’m delighted to see the end of the TARP program and that’s what this accomplishes,” she said.

The final Senate vote on financial reform won’t occur until after next week’s August recess. Assuming Collins’ vote is secure, Democrats will need anywhere between two and four Republicans to support the legislation to overcome a filibuster. The best case scenario for them is for Robert Byrd’s seat to be filled in the next several days, and for Sen. Maria Cantwell (D-WA) to hop into the “yes” column. (She told reporters today that she remains undecided for now.)

ABOUT THE AUTHOR

Brian Beutler is TPM's senior congressional reporter. Since 2009, he's led coverage of health care reform, Wall Street reform, taxes, the GOP budget, the government shutdown fight and the debt limit fight. He can be reached at brian@talkingpointsmemo.com
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