Reid: Financial Reform Could Hit Senate Floor By Next Week

By Laurel Brishel Prichard University of New Mexico/ Talk Radio News Service

Senate Majority Leader Harry Reid (D-Nev.) told reporters Thursday that he is pushing to get a full financial reform bill onto the Senate floor as early as next week.

Reid, along with Senate Majority Whip Dick Durbin (D-IL), Sen. Patty Murray (D-WA) and Sen. Charles Schumer (D-NY) stressed that reform of the nation's financial system would not only protect the taxpayers, but make sure that institutions would not become “too big too fail”.

“[Republicans] seem clearly focused on protecting these big banks,” said Reid “It’s as simple as this: if you want a financial system that allows banks to become too big to fail, puts your retirement security in jeopardy and leaves consumers vulnerable to excessive risk, then you should support the Republican plan.”

The legislation would put in place a better regulatory oversight program to prevent the financial system from triggering another recession.

“Everyone agrees that our regulatory [system] is broken down,” said Schumer.

Schumer added that Republican warnings that the reform plan fails to act as a safeguard against future bailouts is unfounded. According to the New York Senator, the money that would go for any future bailout of a large institution would have to come from the institution itself, and not the taxpayers.

Snowpocalypse Has Delayed Jobs Agenda, Says Reid

By Laurel Brishel Prichard - University of New Mexico/Talk Radio News Service

Senate Majority Leader Harry Reid (D-Nev.) said Thursday that two major snowstorms that have rocked the D.C. area have delayed progress this week on the Democrats' Jobs bill.

Reid assured, however, that the Senate would get going soon on a bill that would include four particular components: the issuing of Build America bonds, which would provide much-needed funding for state and local governments at lower borrowing costs, allowing business owners to write off expenses faster, an extension of the Highway Bill and implementation of the Schumer-Hatch job strategy, which gives Social Security payroll tax breaks to employers.

“The American people need a message, the message that they need is that we are doing something about jobs. We don’t have a Jobs bill, we have a jobs agenda,” said Reid.

Due to the several feet of snow, the Federal Government has been closed all week. Reid said there will not be a vote on the jobs package until all Members of Congress are able to get to Washington D.C.

“People have schedules, when people leave Washington who are Members of Congress it's not that they head to the beach and sip tea and smoke cigars. People have work to do, we represent constituents,” said Reid when asked if it was responsible to let the Senate have off next week for the President's Day holiday.

House Majority Leader Always Hopeful For Bipartisan Agreement

By Laurel Brishel Prichard University of New Mexico/ Talk Radio News Service

House Majority Leader Steny Hoyer (D-Md.), said Tuesday that the meeting he attended earlier that morning with President Barack Obama and other Congressional leaders left him feeling hopeful that the U.S. would soon be moving forward with a bipartisan jobs bill, a commission to help manage the deficit and a solution to the ever-lasting issue of health care reform.

“There was general agreement that getting lending moving to small businesses was absolutely essential if we are going to allow them to grow and grow jobs,” said Hoyer during a briefing with reporters.

Hoyer said that Obama has high expectations that both House Minority Leader John Boehner (R-Ohio) and Senate Minority Leader Mitch McConnell (R-Ky.) will appoint members to the proposed fiscal commission that would represent their party's views fairly. The commission would be structured in a way that appointees will have to receive bipartisan approval.

“This is going to be very, very tough,” noted Hoyer.

Although health care reform appears to be at a stand still, Hoyer explained that there was a “tip of the hat to working together" from both parties.

Later this month, Obama will be holding a televised health care summit. Leaders from both parties have been invited to attend.

Hoyer also expressed his sorrow over the passing of Rep. John Murtha (D-Penn.), who died Monday, and praised the Pennsylvanian Democrat for his service to the country.

Reid Confirms That There Will Be No Work On Health Care Until Brown Arrives

By Sofia Sanchez University of New Mexico/Talk Radio News Service

Senate Majority Leader Harry Reid (D-Nev.) confirmed Wednesday that the Senate will abstain from health care reform negotiations until newly elected Republican Senator Scott Brown (Mass.) comes to Washington.

"We are going to wait until the new Senator arrives to do anything more on health care,” said Reid. “We need to work with [Republicans] as partners and not partisans to improve the individual lives of Americans.”

Referring to the Republican party as the party of ‘no,' Reid offered his hope that 2010 will be more productive and unified.

“As we have worked to relieve the suffering of the American people, Republicans have made a political calculation not to participate, and that was evident to what took place last year,” Reid stated. “Their answer to everything has been no. Hard to comprehend, even with funding the troops.”

Reid’s message to Republicans is that the people of Massachusetts gave them a new opportunity to govern, and he hopes that the minority party will take that opportunity to govern fairly.

“The election in Massachusetts changes the math in the Senate,” said Reid. “But it does not change the fact that people are hurting, it does does not change our commitment to help those who are hurting.”

Health Care Vote May Take Place Prior To Christmas Eve

Senate Majority Leader Harry Reid (D-Nev.) stated Tuesday that the Senate may not hold it’s landmark vote on health care reform Christmas eve. Instead, the body could put the legislation up for its final vote Wednesday.

“Certainly with the ice storms coming ... we hope we can finish tomorrow and not have to do Christmas eve,” Reid said during a late morning press conference.

“But we’ll do whatever is necessary,” the Majority Leader added.

Senate Minority Leader Mitch McConnell (R-Ky.) suggested on the floor Tuesday that his party may back holding the vote sooner than initially planned.

“[Reid and I] are working on an agreement that will give certainty to the way to end this session,” said McConnell. “Hopefully, the two of us together can be recommending something that makes sense for both sides in the not too distant future."