No margin for error in financial bill

<p>Democrats will have little margin for error this week as they push for final congressional approval of the most comprehensive re-write of financial rules since the Great Depression.</p>

 

Democrats will have little margin for error this week as they push for final congressional approval of the most comprehensive re-write of financial rules since the Great Depression.

 

Senate Majority Leader Harry Reid hopes to take up the sweeping legislation as Congress returns from a weeklong break, even though he has not yet locked down the 60 votes needed to clear a procedural hurdle in the 100-seat chamber.

 

The House of Representatives has already approved a final version of the bill, which imposes a range of tough new restrictions on the industry in an effort to avoid a repeat of the 2007-2009 financial crisis. After a year and a half of work, Democrats are eager to send it to President Barack Obama to sign into law.

 

Passage of the bill would give them a second major legislative achievement, alongside health care reform, to show voters as they try to retain control of Congress in elections this November.


In the Senate, Reid can count on 57 Democratic votes for the bill.

 
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