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GOP's Snowe, Brown back Wall Street overhaul bill


Rule of Two
DP Veteran
Oct 17, 2006
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GOP's Snowe, Brown back Wall Street overhaul bill - Yahoo! News

WASHINGTON – Sens. Olympia Snowe and Scott Brown pushed sweeping financial legislation to the edge of final passage Monday, both announcing they intend to support the regulatory overhaul despite initial misgivings.

Snowe of Maine and Brown of Massachusetts join Susan Collins of Maine as three crucial Republican votes for the legislation.

"While not perfect, the legislation takes necessary steps to implement meaningful regulatory reforms, create strong consumer protections and restore confidence in the American financial system," Snowe said in a statement Monday evening.

In breaking with the rest of the Republican Party, the three lawmakers appeared to give Democratic leaders the 60 votes needed to overcome procedural hurdles facing the legislation.

Majority Leader Harry Reid of Nevada said the legislation would be wrapped up this week.

Well this is interesting. Some information on Brown's fiscal policies:

Scott Brown - Wikipedia, the free encyclopedia

Brown opposes a proposed multi-billion dollar tax on banks to recoup bailout money and prescribing of bank executive compensation. Brown, discussing the proposal through a spokesperson, said that he is "opposed to higher taxes, especially in the midst of a severe recession". He also opposes it on the grounds that the tax would likely be passed onto consumers in the form of higher service and ATM fees.[63][64]

Scott Brown on the Issues

* AdWatch: $2 trillion spending spree puts us deeper in debt. (Jan 2010)
* No new regulation of the financial markets. (Jan 2010)
* People are angry over tax and spend mentality and $12T debt. (Nov 2009)
* Let private enterprise try to get us out of this mess. (Sep 2009)
* No cap on bankers' salaries. (Sep 2009)
* Voted NO on $300M to offset the budget deficit via bonds. (Apr 2003)
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