The Wall Street reform bill being debated in the Senate may not be able to survive a filibuster. Sen. Russ Feingold, D-Wisc., announced today that he will vote to block the legislation from getting an up-and-down vote. The announcement is the latest complication in the passage of the bill that many thought would be passed this week.
“As I have indicated for some time now, my test for the financial regulatory reform bill is whether it will prevent another crisis,” Feingold said in a statement. “The conference committee’s proposal fails that test and for that reason I will not vote to advance it.”
Scott Brown, R-Mass., is having second thoughts on the bill despite securing deals that would exempt banks and insurance companies in Massachusetts. Sen. Maria Cantwell, D-Wash., also has not said if she will vote for the bill or not.
With the death of Robert Byrd, the long-serving Senator from West Virginia, the bill does not have the 60 votes necessary to break a filibuster, even if Brown and Cantwell vote to break the filibuster.
This version of the bill would be a compromise with the House; the Senate version of the legislation passed without Feingold or Cantwell’s votes, but had the votes of three Republicans: Brown, Susan Collins, R-Maine, and Olympia Snowe, R-Maine.