Sen. Richard Shelby (R-AL), the ranking member of the banking committee and lead Republican in financial reform negotiations, predicted this morning that he and Sen. Chris Dodd (D-CT) won’t reach a bipartisan deal before today’s procedural vote.
“I don’t believe we’ll have a deal today, George,” he said on Good Morning America.
Shelby and Dodd, the committee’s chairman, have been working on a deal that can get bipartisan support. Senate Minority Leader Mitch McConnell is working to keep his Republican senators united in opposing the bill, as only one GOP switchover would let the legislation move forward. McConnell said yesterday that the bill is “not ready yet.”
Shelby said he and Dodd will meet to continue negotiations at 2 p.m. today.
The procedural vote, a cloture motion to begin debate, is expected at 5:15 p.m.
(Ed. note: This post has been changed from the original.)
