Financial Regulation

Senate Struggles to Finish Reform

Though Senate Democrats are confident that financial regulation legislation will eventually pass, several roadblocks have consistently delayed when the legislation will actually be voted on. The successful passage of the sweeping overhaul is contingent on Majority Leader Harry Reid finding the necessary 60 votes to evade a Republican filibuster, a task fraught with difficulty in an bitter election year. Also up in the air is when West Virginia Gov. Joe Manchin III names the late Democratic Senator Robert C. Byrd's successor, as Byrd supported the legislation., and whether the Republicans who support the measure will vote to close debate. In the best-case scenario, the bill could be voted as early as this Thursday.