Today in Washington, D.C. - April 29, 2010 - Puerto Rico & Dodd Financial Regulation Bills

Today, in the House, they will vote on the Puerto Rico Democracy Act H.R. 2499 which some are identifying as a rigged referendum process to favor Puerto Rico being admitted as the 51st state. After reviewing the proposed law stipulating a proposed ballot, this bill appears to be an effort to confuse the voters of Puerto Rico. The bill will force a vote not on being a state but on do you want to retain the status quo in Puerto Rico which force Puerto Rico to vote to change the present Territorial relationship. The citizen's of this Territory should decide on one issue without any complications or bias in the process. They have voted three times against becoming a state. Now, they have being asked to vote on this complex measure. They can and should be able to vote without our interference alone.

In the Senate: Prior to an agreement yesterday to begin floor debate on the bill that came after Democrats promised concessions on bailout language, the Senate failed to invoke cloture on the motion to proceed to the Dodd bill by a vote of 56-42. The Senate will again resume consideration of S. 3217, the Dodd financial regulation bill. No amendments will be in order until Dodd offers his substitute amendment.  A number of amendments are expected from both sides and votes on some are possible this afternoon.

In fact, both Sen. Ben Nelson (D-NE) and Sen. Mark Warner (D-VA) have publicly expressed reservations about aspects of the bill. Nelson explained his multiple votes against moving to the bill in a statement yesterday: “I have heard from Nebraska business owners and leaders that the underlying bill will extend too far and adversely impact Main Street businesses that use third party financing to help customers pay for their products or services.” And earlier this week, Warner told The Daily Caller, “There are parts that need to be tightened.”

The Washington Post notes, “Although Democrats have scaled a major procedural hurdle, final passage of the massive bill is by no means guaranteed. Sen. Ben Nelson (D-Neb.) supported the Republican filibuster on all three votes, and if Democrats decide they can't or won't address his concerns, they must win at least two GOP converts to push the legislation across the finish line.”

Analyzing the outcome, National Review Online’s Stephen Spruiell wrote yesterday, “Since this outcome was all but preordained — Democrats couldn't support ‘bailouts’; moderate Republicans weren’t going to filibuster over ‘consumer protection’ — why didn’t Dodd just agree to these changes on Monday? The answer is exactly what you think it is: The Democrats wanted to force the GOP to filibuster ‘Wall St. reform’ a few times in order to milk their political advantage.”

If Democrats really want to pass a bill to rein in Wall Street and help Main Street, they need to drop the political games, follow through on their commitment to remove bailout provisions, and join with Republicans to ensure that onerous regulations don’t crush businesses across the country that had nothing to do with the financial crisis.

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