Thursday
May202010
Obama Senses Victory After Senate Passes Key Vote On Financial Reform
President Barack Obama thanked the Senate on Thursday for voting to end debate on a key financial regulatory reform bill. The 60-40 vote means that the bill can now proceed to the floor for a final vote.
Though two Democrats, Sens. Russ Feingold (Wisc.) and Maria Cantwell (Wash.), broke with their party and voted no to ending debate for a second straight day, three Republicans, Sens. Olympia Snowe and Susan Collins of Maine, and Sen. Scott Brown (Mass.) voted yes, giving 57 Democrats the minimum number of votes they needed to block a filibuster.
Addressing reporters in the White House Rose Garden following the vote, the President praised the Senate for moving the bill forward, but cautioned against celebrating prematurely.
“We’ve still got some work to do,” he said, reminding supporters that the Senate still must pass its bill before it moves to conference. “There’s no doubt that during that time, the financial industry and their lobbyists will keep on fighting.”
But so will the administration. Four weeks ago, Mr. Obama memorably went to Wall Street to make the case for reform. Since then, the President and his financial reform team have hit the road in an attempt to sell the public on the plan. And earlier this week, the President was successfully able to convince Senator Brown to break with Republicans and change his vote, from no to yes.
As a result, the White House feels confident that they’ve won Round One of the battle.
“Over the last year, the financial industry has repeatedly tried to end this reform with hordes of lobbyists and millions of dollars of ads,” said the President. “Today, I think it’s fair to say that these efforts have failed.”
Though two Democrats, Sens. Russ Feingold (Wisc.) and Maria Cantwell (Wash.), broke with their party and voted no to ending debate for a second straight day, three Republicans, Sens. Olympia Snowe and Susan Collins of Maine, and Sen. Scott Brown (Mass.) voted yes, giving 57 Democrats the minimum number of votes they needed to block a filibuster.
Addressing reporters in the White House Rose Garden following the vote, the President praised the Senate for moving the bill forward, but cautioned against celebrating prematurely.
“We’ve still got some work to do,” he said, reminding supporters that the Senate still must pass its bill before it moves to conference. “There’s no doubt that during that time, the financial industry and their lobbyists will keep on fighting.”
But so will the administration. Four weeks ago, Mr. Obama memorably went to Wall Street to make the case for reform. Since then, the President and his financial reform team have hit the road in an attempt to sell the public on the plan. And earlier this week, the President was successfully able to convince Senator Brown to break with Republicans and change his vote, from no to yes.
As a result, the White House feels confident that they’ve won Round One of the battle.
“Over the last year, the financial industry has repeatedly tried to end this reform with hordes of lobbyists and millions of dollars of ads,” said the President. “Today, I think it’s fair to say that these efforts have failed.”
Newest Senate Member Reacts To Passage Of Unemployment Extenders
By Rob Sanna - Talk Radio News Service
Shortly after Carte Goodwin (D-W.Va) was sworn into the U.S. Senate this afternoon, the chamber voted 60-40 to pass a $34 billion measure to extend unemployment benefits to Americans through November.
Goodwin, a 36-year-old former aide to West Virginia Governor Joe Manchin (D), was appointed by his old boss last week to fill the Senate seat previously occupied by the late Robert Byrd (D).
“I feel privileged to have played a small role helping to move this legislation forward. Obviously, no one can replace Senator Byrd, nor can anyone really hope to fill his shoes, but I feel privileged to have the opportunity to try and emulate his work ethic and his commitment to the law, this body, and the state of West Virginia.” said Goodwin following the vote.
In all likelihood, Goodwin will merely serve as a placeholder for Manchin, who hopes to win the seat in a special election on November 2.