H.R. 4173, the Dodd-Frank Wall Street Reform and Consumer Protection Act, is now officially on its way to the Senate floor.
Sen. Christopher Dodd, chairman of the Senate Banking, Housing and Urban Affairs Committee announced Monday that he believes H.R. 4173 supporters have the votes needed to pass a “cloture motion.”
A cloture motion paves the way for a bill to come up on the Senate floor by eliminating the risk that opponents will seek to block it by engaging in a filibuster, or endless round of debate.
The House already has passed H.R. 4173.
Senate Majority Leader Harry Reid, D-Nev., has filed a cloture motion.