Bipartisan Finance Bill Alive?

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Sen. Judd Gregg (R-RI), a top senator with a hand in financial regulatory reform, held out hope today that the Senate’s bill to rewrite the rules of our financial markets could still garner bipartisan support. “I hope we’ll do a negotiated compromise because there’s not really a big partisan divide here,” Gregg told a Bloomberg radio program. “It’s just a question of getting it right.”

The bill, which is set to hit the Senate floor tomorrow or Thursday, has become the latest lightning rod issue to divide the Senate. Senate Minority Leader Mitch McConnell (R-Ky.) sparked the partisan bickering by disingenuously saying the bill would lead to “endless taxpayer-funded bailouts”; soon after, all 41 Republicans in the Senate signed a letter opposing the current version of reform legislation. That divide between Democrats and Republicans has been exacerbated by an armada of Wall Street and other financial lobbyists seeking to water down the Senate’s financial reform bill and play members of both parties off of each other. The challenge facing Democrats is rounding up one or two or three GOP votes to overcome Republicans’ potential filibuster and pass the bill, which could be voted on as early as Monday of next week.

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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