S. 3217, a major Senate financial services bill, is on track to come up for discussion on the Senate floor Monday.
Starting about 3 p.m. Monday, the Senate will debate whether they should debate the bill, according to a Senate calendar posted by Senate Democrats Friday.
At 5 p.m. Monday, “the Senate will conduct a roll call vote on the motion to invoke cloture on the motion to proceed to S. 3217,” according to Senate Democrats.
Sen. Christopher Dodd, D-Conn., chairman of the Senate Banking, Housing and Urban Affairs Committee, filed a 1,408-page version of the bill April 15. He called that bill version he Restoring American Financial Stability Act of 2010 bill.
Dodd has been working on a compromise version of the bill with Sen. Richard Shelby, R-Ala., and others.
Senate Democrats are calling the version of the bill they will discuss Monday the Wall Street Reform Act bill.
Senate Majority Leader Harry Reid,D-Nev., tried unsuccessfully to persuade Republicans to let the bill come up for consideration without facing the threat of a filibuster. Senate Minority Leader Addison Mitchell McConnell Jr., R-Ky., criticized Reid for making the rquest while Democrats are still negotiating with Republicans about the content of the bill.
“I don’t think [negotiating] a bill with the legitimacy of a bipartisan agreement is a waste of time,” McConnell said, according to floor updates provided by the Senate Republicans. “This bill potentially affects every small bank and lending institution in our country.”
Reid assured McConnell that Republicans can offer amendments once the bill comes up on the floor.
“I’m not asking everybody approve the bill as written,” Reid said. “I’m asking we move to the bill.”