Senate poised to send bank bill to Obama
WASHINGTON (AP) – President Barack Obama on Tuesday secured the 60 votes he needs in the Senate to pass a sweeping overhaul of financial regulations, all but ensuring that he soon will sign into law one of the top initiatives of his presidency.
With the votes in hand to overcome Republican delaying tactics, Senate Majority Leader Harry Reid said Tuesday he hoped for final passage on Thursday. The House already passed it.
“This reform is good for families, it is good for businesses, it’s good for the entire economy,” Obama said as he prodded the Senate to act quickly.
Passage would represent a signature achievement for the president just four months after he signed massive health care legislation into law. The final vote comes amid lingering public resentment of Wall Street, but the legislation’s symbolic and political impact is likely to be diminished by anxiety across the country over jobs and the economy.