By a partisan vote of 13 to 10, the Senate Banking Committee voted early Monday evening to send Committee Chairman Christopher Dodd’s proposed overhaul of the nation’s financial system to the full Senate without any amendments.
The Banking Committee decided to abandon plans for a week-long debate of roughly 400 amendments (the majority of them to be offered by Republicans) and to send the bill to the Senate floor as originally proposed by Sen. Dodd last week. As reported by Reuters:
The move reflects a tactical decision by Republicans to avoid an embarrassing series of defeats for their amendments at the committee level, and to move their fight against reforms to the full Senate where they think they have better odds.