Tuesday, July 13, 2010

Wall Street Bill Moves Toward Final Test in Congress

Senator Harry Reid is expected to bring up the historical financial reform bill in Congress today, but the votes necessary for it to pass by the end of the week are not there to support it. While there are still Senators who have not decided how they will vote, experts are worried Reid may fall short of the 60 votes needed to clear an expected filibuster by Republicans.

Reid picked up the support of three Republican moderates on Monday, but Democratic Senator Ben Nelson said he still had questions about the bill. In addition, the seat of the late Senator Robert Byrd is likely to remain vacant until next week, depriving Democrats of another vote.

Analysts expect the bill to ultimately pass the Senate, giving Obama and his fellow Democrats an important legislative victory ahead of the November congressional elections.

Continue reading at Reuters.com…

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