TAG was created during the financial crisis, and provides for government guarantees for non-interest-bearing bank accounts used by small companies and municipalities. Companies and local governments holding large amounts of money for a brief period of time use the transaction accounts.
“This program provides certainty to businesses at uncertain times,” Sen. Tim JohnsonTim JohnsonCourt ruling could be game changer for Dems in Nevada Bank lobbyists counting down to Shelby’s exit Former GOP senator endorses Clinton after Orlando shooting MORE (D-S.D.) said ahead of the vote Tuesday. “With concerns about the fiscal cliff and the continuing instability in European markets, I believe this is still needed.”
Johnson said the bill has a cost recovery provision, meaning taxpayers wouldn’t be on the hook. He said the bill “is not and never will be a bailout.”
The Senate voted 76-20 to end debate on a motion to proceed to consideration of the bill. The motion to proceed was then approved immediately by unanimous consent. The Senate is expected to continue work on the bill this week.
Republican Sens. Tom CoburnTom CoburnCoburn: Trump's tweets aren't presidential The road ahead for America’s highways Rethinking taxation MORE (Okla.), Bob CorkerBob CorkerRepublicans play clean up on Trump's foreign policy GOP Congress unnerved by Trump bumps Trump makes nuclear mistake on arms control treaty with Russia MORE (Tenn.), Mike CrapoMike CrapoTime for the feds to deregulate gun suppressors Senate votes to repeal transparency rule for oil companies Live coverage of Sessions confirmation hearing MORE (Idaho), Jim DeMint (S.C.), Dean HellerDean HellerPlanned Parenthood targets GOP lawmakers amid ObamaCare protests Overnight Finance: Fed chief tries to stay above partisan fray | Bill would eliminate consumer agency | Trump signs repeal of SEC rule on foreign payments Fed chief looks to stay above partisan fray in Trump era MORE (Nev.), Ron JohnsonRon JohnsonDems ask for hearings on Russian attempts to attack election infrastructure GOP senators unveil bill to give Congress control of consumer bureau budget GOP gets bolder in breaking with Trump MORE (Wis.), James Risch (Idaho), Marco RubioMarco RubioRepublicans play clean up on Trump's foreign policy Top Dem: GOP is terrified of Trump McConnell on Trump: 'I'm not a fan of the daily tweets' MORE (Fla.), Rand PaulRand PaulTrump’s feud with the press in the spotlight Rand Paul: We’re very lucky John McCain’s not in charge Rand Paul: John Bolton would be a 'bad choice' for national security adviser MORE (Ky.), Kelly AyotteKelly AyotteNH governor 'not aware’ of major voter fraud Former NH AG: 'Allegations of voter fraud in NH are baseless' Ex-NH GOP chair calls Trump's voter fraud bluff with ,000 bet MORE (N.H.), Pat RobertsPat RobertsCNN's Acosta: 'The fix is in' on who gets to ask Trump questions GOP senators to Trump: We support 'maintaining and expanding' Gitmo Kansas treasurer wins GOP nomination to fill House seat MORE (Kan.), Jeff SessionsJeff SessionsAide denies report that Christie has been talking WH role Where Trump’s travel ban stands Top antitrust senators call for Sessions to scrutinize AT&T-Time Warner merger MORE (Ala.), John ThuneJohn ThuneWhere Trump’s travel ban stands Verizon angling to lower price of Yahoo purchase: report Congress should take hands off the wheel of self-driving cars MORE (S.D.), John BarrassoJohn BarrassoOvernight Energy: EPA pick Pruitt set for Friday vote | Dems plan all-night protest | Trump nixes Obama coal mining rule Judge orders release of EPA nominee’s emails Dems blast McConnell for not delaying vote on EPA nominee MORE (Wyo.) and Pat Toomey (Pa.) were among those who voted against the motion.