Yesterday, Senate Majority Leader Harry Reid (D-NV) attempted to invoke cloture on Sen. Chris Dodd’s (D-CT) financial regulatory reform bill. However, the attempt failed 57-42, due to a number of factors: the absence of Sen. Arlen Specter (D-PA), Sen. Scott Brown (R-MA) changing his vote, and Sens. Maria Cantwell (D-WA) and Russ Feingold (D-WI) refusing to end debate without consideration of provisions that would strengthen the bill. Today, Reid moved to invoke cloture again, and due to Specter’s arrival and Brown switching to yea, the vote succeeded, 60-40.
In addition to Brown, Sens. Susan Collins (R-ME) and Olympia Snowe (R-ME) voted in favor of cloture. Cantwell and Feingold voted no, again. There will now be 30 hours of post-cloture debate, including votes on an amendment proposed by Sen. Sam Brownback (R-KS) that would exempt auto dealers from new consumer protections and an amendment proposed by Sens. Carl Levin (D-MI) and Jeff Merkley (D-OR) that would ban banks from proprietary trading.
The Senate voted tonight to pass the bill as amended, 59-39. Sens. Chuck Grassley (R-IA), Susan Collins (R-ME), Olympia Snowe (R-ME) and Scott Brown (R-MA) voted in favor. Sens. Maria Cantwell (D-WA) and Russ Feingold (D-WI) voted no. Sens. Arlen Specter (D-PA) and Robert Byrd (D-WV) did not vote.