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GOP Rebuffs Dem Concession On Financial Reform
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| Contributor | RP |
| Last Edited | RP Apr 19, 2010 12:10pm |
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| Category | Proposed Legislation |
| Author | Brian Beutler |
| News Date | Sunday, April 18, 2010 10:15:00 PM UTC0:0 |
| Description | Senate Republicans say they're prepared to work constructively with Democrats on a consensus financial reform bill. But this weekend, after the White House offered up a key substantive concession, they swatted President Obama's hand away in a fashion that was all too reminiscent of their strategy of opposition to health care reform.
"We ought to go back to the drawing board," Senate Minority Leader Mitch McConnell said on CNN Sunday morning.
Likewise, moderate Republican Scott Brown (R-MA), once considered a swing vote on regulatory reform, explicitly threatened to vote to block the bill from even being debated. Asked by CBS' Bob Schieffer if he'd filibuster the bill rather than let it come to the Senate floor, Brown was unequivocal: "In this particular instance, yes," he said.
The statements from Brown and McConnell came two days after the administration signaled it would push Democrats to drop a provision in their bill that Republicans broadly oppose: a $50 billion liquidation fund, raised by imposing a tax on major financial institutions, that would be used to cover the government's costs in the event that it has to liquidate an insolvent firm. |
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