Seeking Republican support
June 24, 2010 | federal legislation, industry | Comments (0)From The Hill:
The conference committee putting the final touches on the Wall Street reform measure is taking steps to ease concerns raised by Republican Sens. Susan Collins (Maine), Olympia Snowe (Maine) and Scott Brown (Mass.). In May, those three joined Sen. Chuck Grassley (Iowa) as the only Republican senators to help pass the bill after two Democrats, Russ Feingold (Wis.) and Maria Cantwell (Wash.), defected.
In the final hours of the two-week conference process, Democrats are also working behind the scenes to bridge internal party splits over a highly controversial provision from Sen. Blanche Lincoln (D-Ark.) that would restrict banks’ derivatives trading. Scores of centrist and New York House lawmakers in a series of letters this week have raised concerns or outright opposition to the provision. House Democratic leaders were holding a series of negotiations on the issue, and centrist New Democrats and New York members were preparing for a meeting with Lincoln.
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