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Banking Committee to Bypass Markup of Financial Overhaul
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| Contributor | Brandonius Maximus |
| Last Edited | Brandonius Maximus Mar 22, 2010 02:22pm |
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| Category | Proposed Legislation |
| Author | Jessica Brady |
| News Date | Monday, March 22, 2010 10:20:00 PM UTC0:0 |
| Description | The Senate Banking, Housing and Urban Affairs Committee is expected to bypass a lengthy markup and vote out a sweeping financial regulatory reform bill Monday evening, a surprising move that some believe suggests a bipartisan agreement on the issue could be looming.
“There’ll be no markup. There will be some opening statements. The bill will pass out,” Sen. Bob Corker (R-Tenn.) said Monday during an interview on CNBC.
Explaining the development, Corker said: “I think it’s probably true that we have a better opportunity with a different cast of characters — the full Senate — to do something that is sound policy-wise.”
While Republicans were expected to offer hundreds of amendments to Sen. Chris Dodd’s (D-Conn.) regulatory reform bill, ranking member Richard Shelby (R-Ala.) opted instead to continue negotiations as the bill moves to the floor. Dodd has worked for months to broker a deal with Shelby, and to a lesser extent, with Corker. While Dodd has so far been unable to strike an agreement with either Republican, Democrats are hopeful that a deal is still reachable between now and late April, when the bill could be on the floor. |
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