At the center of the latest showdown over financial reform legislation is a proposal to strengthen the Volcker rule, which would limit on risky trading on Wall Street. The amendment, which was scheduled for a vote by bipartisan agreement, is now being objected to by GOP leadership. But Progressive Dems say without a vote on their amendment, they may not allow the bill to proceed.
For his part, Sen. Chris Dodd (D-CT) supports the measure, but is not inclined to put it in his manager’s amendment in order to make sure it gets a vote.
Sen. Carl Levin (D-MI) told reporters at a press conference this evening that the refusal by Republicans to allow a vote on the issue put the cloture vote in jeopardy. “There’s a reasonable expectation…that our amendments would be brought to a vote,” Levin said. “I’m not inclined to vote for cloture if we can’t get a vote on this.”
Sen. Jeff Merkley (D-OR) added: “I want to note that if the Republican leadership didn’t think this had a chance to pass, they would say go ahead and bring it up.”
Democrats hope to create pressure among GOP rank-and-file members, to buck the leadership and debate and vote on Democrats’ amendments.
Reporting by Brian Beutler
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