Senate Agrees to Move FinReg to the Floor by Unanimous Consent
Rather than taking a fourth cloture vote, the Senate just agreed to start formal debate on Sen. Chris Dodd’s (D-Conn.) financial regulatory reform bill by unanimous consent.
Earlier this afternoon, Senate Minority Leader Mitch McConnell (R-Ky.) said Republicans would no longer stand in opposition to the bill reaching the floor. Republicans Olympia Snowe (Maine), Susan Collins (Maine) and Lamar Alexander (Tenn.) indicated they would vote for the cloture motion. But Senate Majority Leader Harry Reid (D-Nev.) just asked for unanimous consent — a parliamentary procedure that does not require a vote, as long as no senator objects.
Senators are currently speaking and anyone interested can watch all of the hot Hill action here.