According to a tweet by the Senate Banking Committee, Harry Reid says the Senate will vote on the financial reform bill after the July 4th recess.Here’s the full tweet:
Reid says the Senate will vote on Wall Street Reform after the July 4th recess.
Though the original plan was to vote on the bill ahead of the recess, financial reform has faced several hurdles over the past few days, beginning with the death of Sen. Robert Byrd (D-WV) which cost the Democrats one vote. They had reopened the Conference Committee yesterday, in the hopes of finding a way to pay for the bill that would satisfy the necessary swing senators. They reclosed the bill after making a few minor changes.
Democrat Russ Feingold (D-WI) says he’ll vote against the bill because it’s not strong enough. Scott Brown (R-MA) and Susan Collins (R-ME) initially said they wouldn’t support it because of a provision that imposes a fee on big banks, which was added during the final negotiations and has since been removed. Collins now appears willing to vote for the legislation; Brown remains coy.