Senate braces for third procedural vote on financial reform

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“Stop the daily cloture votes!”

Not exactly a slogan to drive anyone to the barricades, but considering the source, at least an entry in the agitprop sweepstakes.

Sen. Mike Johanns (R-Neb.) issued that clarion call from the Senate floor on Wednesday morning as lawmakers prepared for their third attempt to bring a Democratic financial regulation bill to the floor. Two previous attempts this week have been blocked by the GOP and without a bipartisan compromise, Wednesday’s expected effort is expected to also fall short of the 60 votes needed to open debate.

Both sides argue there is bipartisan agreement on the need for tougher regulation of the financial system, but it is the details of the separate approaches that still need to be resolved. Talks have been ongoing, but in the meantime, Democrats have pushed the issue on the floor in a series of procedural votes designed to at least win the politics in this midterm election year.

“We have to stop making this an issue,” Johanns said of the procedural votes. “It is not about R and D lines. We can get a broad bipartisan bill. Stop the daily cloture votes. I understand the politics of that. We need to work through differences of opinion.”

Majority Leader Harry Reid of Nevada said on the Senate floor Wednesday that he wanted another vote, the third in as many days.

“The time has come to move this conversation from the sidelines to the playing field,” he said.

But Republicans are expected to continue their unity. A moderate, Sen. Susan Collins, (R-Maine) said on NBC’s “Today’ show that she again planned to vote against bringing the bill to the floor.

-- Michael Muskal
Twitter.com/LATimesmuskal