April 22, 2010

Republicans Block Debate on Financial Reform Bill

Democrats set vote on Monday to break filibuster

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Senate Republicans on Thursday, April 22, blocked debate on legislation that would bring about sweeping financial reform, so Democrats called for a procedural vote on Monday evening to break the Republican filibuster.

Mitch McConnell, Senate Republican leader from Kentucky, objected to the Democrats trying to force debate while negotiations on the bill by Senator Christopher Dodd (D-Connecticut) were still continuing.

Senate Majority Leader Harry Reid of Nevada responded that Democrats had tried for two months to reach a deal with Republican members on the banking committee and that he was ready to test Republicans to see if all 41 would vote against the bill moving to the full Senate.

Read a news item on President Obama's speech on financial reform in New York on InvestmentAdvisor.com.

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