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December 11, 2014

Threat of Gov't Shutdown Renewed as Dems Oppose Wall St. Deregulation Added to Spending Bill 
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A government shutdown is back on the table today as top Democrats object
to corporate-friendly measures tucked into an omnibus spending bill. The
$1.1 trillion measure was negotiated ahead of tonight's midnight
deadline to fund the government and keep federal agencies from closing
their doors. But Democrats are now opposing several last-minute
provisions, including one that would repeal a key rule in the Dodd-Frank
financial reform bill that limits risky trades by federally insured
banks. On Wednesday, Democratic Sen. Elizabeth Warren accused the
financial giant Citigroup of authoring the rule change.

Sen. Elizabeth Warren: "Citigroup is large, and it is powerful, but it
is a single private company. It shouldn't get to hold the entire
government hostage, to threaten a government shutdown, in order to roll
back important protections that keep our economy safe. This is a
democracy, and the American people didn't elect us to stand up for
Citigroup. They elected us to stand up for all the people."

Another amendment would increase tenfold the amount of money allowed for
certain political donations. Republicans say they're open to a one- or
two-day extension, but have rejected Democratic calls to remove the
pro-corporate provisions. But with Democrats still in control of the
Senate, Republicans will not be able to pass the spending bill without
bipartisan support.

 

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