US lawmakers eye scrapping bank tax from finance bill

Source: Economic Times of India

30 Jun 2010, 0423 hrs IST,AGENCIES

WASHINGTON: US lawmakers were poised on Tuesday to scrap a 19-billion-dollar bank fee from a major Wall Street overhaul bill following Republican objections to the measure, a source familiar with legislative efforts said.

The meeting of House and Senate lawmakers was to take place at 2100 GMT, with an eye to scrapping the controversial bank tax, the congressional source said.

On Friday, US lawmakers agreed on a sweeping financial reform bill, ending marathon negotiations aimed a creating legislation that would prevent another economic crisis.

But the death this week of a prominent Democrat, Senator Robert Byrd, cast doubt on plans for the swift passage of the bill, depriving Democrats of a vital vote in the bitterly divided Senate.



Read more: http://economictimes.indiatimes.com/news/international-business/US-lawmakers-eye-scrapping-bank-tax-from-finance-bill/articleshow/6108636.cms

legislation that Democrats objected to when Bush was in office? I really don't remember hearing any of this back then.

I think some great TV ads could be made on this topic.