Tags: US | Financial | Overhaul | Brown

Brown Remains Uncommitted After Fix to Bank Bill

Wednesday, 30 Jun 2010 10:16 AM

 

Republican Sen. Scott Brown of Massachusetts says he's not ready to support a sweeping overhaul of financial regulations. His stance for now could leave Democrats short of the 60 votes they need to beat procedural hurdles and pass the bill.

Brown previously voted for a Senate version of the bill but said Wednesday he wants to spend next week reviewing a final bill negotiated by House and Senate lawmakers.

He had threatened to vote against the bill if it contained a $19 billion fee on large banks and hedge funds. On Tuesday, Democrats reopened negotiations to drop the fee and replace it with money generated by ending the unpopular $700 billion bank bailout program.

Brown said he was glad the bank fee was removed but still needs time to decide.

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