May 19th, 2010
01:47 PM ET
12 years ago

Wall Street reform: Key test vote near

Washington ( - The Senate is set Wednesday to take a crucial test vote on Wall Street reform amid signs that proponents may have secured enough votes for passage.

Democrats will begin voting at 2 p.m. ET to end debate on the legislation, which aims to stop bailouts, shine a light on complex financial products and strengthen consumer protection.

Proponents need 60 votes to pass the test. Passage would be an important barometer since only 51 votes would be needed for Senate approval of the final bill.

"There comes a time when we have to put this thing to rest," said Senate Majority Leader Harry Reid, D-Nev., Wednesday morning. "We've been on this bill for a month."

Reid has said senators, including some Republicans, have told him they favor ending debate.

One key lawmaker, Sen. Susan Collins, R-Maine, said that she planned to join Democrats voting to end debate, calling the overall month-long debate "fair and open," in a statement.

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Filed under: Financial Reform • Senate • Wall Street
soundoff (6 Responses)
  1. Dutch/Bad Newz, VA

    Pass the bill already!!!

    May 19, 2010 01:52 pm at 1:52 pm |
  2. JES

    Why don't you show everyone you can balance a budget like the US them try for Wall St Reform.

    The Dem's are the main reason we are in this mess when you lowered the standards for loans thru Fanny and Freddie.

    One day you might get it that not everyone was meant to own a house.

    May 19, 2010 01:53 pm at 1:53 pm |
  3. Greg Pottstown PA

    Can anyone tell me exactly what is in this bill?

    "Passage would be an important barometer since only 51 votes would be needed for Senate approval of the final bill."

    What do you know, another bill written in secret and passed without the 60 votes needed to pass a bill as per the constitution.

    May 19, 2010 01:59 pm at 1:59 pm |
  4. GI Joe

    The republicans will vote against it, as usual, to protect their corporate buddies.

    They also yell the loudest about illegals, but won't help do anything about it.

    Then there's national security- they keep blocking key appointments, never allowing them to come up for vote.


    May 19, 2010 02:16 pm at 2:16 pm |
  5. AK Steve

    I have to admit. I am impressed. A health care bill, a stimulus package and now a financial reform bill. Whether you like it or not, the Dems are getting things done.

    And the GOP – well, they do like they always do – NOTHING.

    I hope the American people can see the real progress on real issues that has taken place in the past year.

    When the GOP was in power – what did they do? Oh, yeah, they lied to us and took us to war, they gave the richest people in the country HUGE tax cuts, and they had secret meetings with oil companies.

    Hmmm... which party is the party of the people here?

    May 19, 2010 02:32 pm at 2:32 pm |
  6. Boycott Rush`s Sponsors

    Now we will see whos on the Corporate payroll.

    May 19, 2010 02:46 pm at 2:46 pm |