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Words and phrases away from regulatory reform?
April 20, 2010 - Mike Maneval
Discussions between Republicans and Democrats on the Senate's banking committee are making progress, the Huffington Post reports. Republican Bob Corker, a former Chattanooga mayor representing Tennessee, had pressed on weeks ago even as other Republicans left the table, but now Alabama's Richard Shelby, the ranking Republican on the committee, says the two factions agree on "85 percent" and are down to parsing "words and phrases."
Republicans remain opposed to what they characterize as a $50 billion bailout fund - a description Democrats contest. Yet Democrats and the White House indicate they are willing to drop the provision altogether, with House Majority Leader Steny Hoyer of Maryland telling the journalists of Politico that the measure is not "central" to the legislation. And the two sides differ on when the bill could see the Senate's floor: Chairman Chris Dodd, retiring Democrat of Connecticut, says next week is a possibility, Shelby says about six weeks. But, regardless of when the Senate votes, this latest news suggests the matter will move ahead.
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