Congress needs new funding for bill
The financial overhaul bill is officially known as the Dodd-Frank Act. That’s after the two members of Congress who pushed it through a conference committee last week after an epic round of negotiations. I would offer a new name, though: The Never-Ending Story. Both the House and the Senate were supposed to vote on a final bill this week. Then Democrat Robert Byrd died. And Republican Scott Brown says he’s changed his mind about voting yes. He doesn’t like a $19 billion bank tax that’ll pay for the bill. So the thing doesn’t have the 60 votes it needs to get past a Senate filibuster which means, well, here’s Brett Neely from Washington. Brett Neely: The bank tax was a middle-of-the-night solution so that the financial overhaul bill wouldn’t add to the budget deficit. But, says Karen Petrou of Federal Financial Analytics… Petrou: That’s undermined a very fragile compromise that the Senate crafted so now they’ve to find a way to make this budget neutral without the new tax.
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