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FinReg Lacks Votes for Passage

As of now, Sen. Chris Dodd’s (D-Conn.) financial regulatory reform bill has 93 confirmed votes on party lines. Just a few decisive senators remain. Yesterday,

Adaline Fritz
News
Last updated: Jul 31, 2020 | Jun 29, 2010

As of now, Sen. Chris Dodd’s (D-Conn.) financial regulatory reform bill has 93 confirmed votes on party lines. Just a few decisive senators remain. Yesterday, Russ Feingold (D-Wis.), a former no — meaning he voted against the Senate bill, before it was reconciled with the House version — said he will not vote for the conference committee report. Scott Brown (R-Mass.) has likewise decided not to support the bill. Still up in the air: Maria Cantwell (D-Wash.), a former no and possible yes; Olympia Snowe (R-Maine), a former yes and likely yes; Susan Collins (R-Maine), a former yes and likely yes; and Chuck Grassley (R-Iowa), a former yes and likely yes.

Thus far, Collins and Snowe have grumbled that they do not want to vote for the bill due to the new $19 billion tax on banks, added at the last minute by Rep. Barney Frank (D-Mass.), who led the conference committee. But neither has ruled out voting for the bill entirely.

Normally, one would think that would mean the Democrats would offer one or a few of them something in exchange for their vote. (Think: Cornhusker kickback.) The problem is that amending a conference committee report is not nearly as simple as amending a regular bill; it would take considerable time to do. That means that Snowe, Collins or Brown might simply come around, or might win a verbal promise on another bill. It also means that Democrats might wait until Sen. Robert Byrd’s (D-W.Va.) replacement is in place, making the math easier. Byrd passed away yesterday at the age of 92.

Adaline Fritz | Adaline's upbeat, can-do attitude and nurturing disposition make her perfect for understanding each client's wants and needs and skillfully directing them toward their real estate objectives. Adaline has experience in all facets of the real estate process, having started in the administrative sector and progressed to operations before achieving success in real estate sales. She earned a Bachelor of Science degree in Psychology from San Diego State University and Western Oregon University, and returned to the Portland area in 2011 to pursue a career in real estate. She also loves traveling, working out, and spending time on the water during Portland's beautiful summers.

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