The legislation, which seeks an overhaul of financial regulations unseen since the 1930s, would set up a mechanism to watch out for risks in the financial system, make it easier to liquidate large failing firms and write new rules for complex securities blamed for helping precipitate the 2008 economic crisis. It also would create a new consumer protection agency, a key point for President Barack Obama.
As the end game on the bill nears, Republicans this week have escalated their attacks on the legislation, arguing the bill had grown worse during its time on the Senate floor and does not address root causes of the 2008 financial meltdown.
The Democratic majority, said Senate Republican leader Mitch McConnell, "uses this crisis as yet another opportunity to expand the cost and size and reach of government."
As the end game on the bill nears, Republicans this week have escalated their attacks on the legislation, arguing the bill had grown worse during its time on the Senate floor and does not address root causes of the 2008 financial meltdown.
The Democratic majority, said Senate Republican leader Mitch McConnell, "uses this crisis as yet another opportunity to expand the cost and size and reach of government."