Sen. Chris Dodd, D-Conn., the chairman of the Senate Banking Committee, announced today he has prostate cancer and will have surgery during the August congressional recess.

Dodd said he expects to be back at work after a "brief recuperation." He said that the cancer was discovered at an early stage and that his treatment and recovery would not alter his plans to seek re-election in 2010.

Dodd is playing a key role in shepherding healthcare reform legislation through the Senate as acting chairman of the Health, Education, Labor and Pension Committee in the absence of Sen. Ted Kennedy, D-Mass., who has brain cancer.

As chairman of the Senate Banking panel, he is also a key player on such critical insurance industry issues as future regulation, executive compensation and determining how systemically risky institutions will be regulated in the future.

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