"Loss makes it tougher for Democrats to pass financial overhaul bill" by Matt Viser, Globe Staff | June 29, 2010
WASHINGTON — The death of Senator Robert C. Byrd could significantly complicate plans to approve a major overhaul of financial industry rules this week, a priority for President Obama.
Senate Democrats, who were already dealing with a razor-thin margin of support, will have to persuade up to four Republicans to help them fend off a GOP filibuster when the plan, which Byrd backed, comes up for a vote.
That would not be a problem if....
But....
The House is expected to vote as early as today; the Senate vote would follow, though no date has been set. Democratic leaders had wanted to send the bill to Obama by July 4, but the final vote may now be delayed.
Byrd’s successor will be appointed by West Virginia Governor Joe Manchin, a Democrat, until an election. Manchin told the Associated Press there is no timetable for the appointment, making it unlikely someone will be in place for votes this week.
For now, that means Democrats control 58 votes in the Senate, two shy of the 60 they need to break a Republican filibuster.
On financial overhaul, two Democrats — Maria Cantwell of Washington and Russ Feingold of Wisconsin — have consistently voted against the plan, saying it should limit banking practices more aggressively.
If Cantwell and Feingold continue to oppose the bill, Democrats would need four Republicans. One possibility would be to persuade the two Democrats to vote to shut off debate — the procedural motion that requires 60 votes to prevent a filibuster — and then free them up to vote against its final passage.
That would be the SAME as VOTING FOR IT?!
Do they REALLY TINK WE is DAT STOO-PID out here?
Cantwell’s spokesman said she was reviewing the bill and had not taken a position.
Flip.
Feingold remains adamantly opposed....
Flop.
Byrd’s death could impact several other pending issues. Senate Democrats have been trying for weeks to gather enough votes to pass a bill that would extend unemployment benefits for the longterm jobless, alter tax codes, and extend higher Medicaid funding for states.
Related:
"The US House did pass a bill yesterday that spares doctors a 21 percent cut in Medicare payments. The measure, already passed by the Senate, would delay cuts six months while lawmakers work on a permanent solution. The bill goes to Obama for his signature."
Oh, so they TOOK CARE of DOCTORS and INSURANCE COMPANIES, huh?
--more--"
Related: Wall Street Not Worried About Washington Regulations
Wall Street Writing Washington Regulations
Maybe not.
