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 CoburnDon't be fooled: Carper and Norton don't fight for DC Coburn: Trump's tweets aren't presidential The road ahead for America’s highways MORE (Okla.), Bob CorkerBob CorkerSenators introduce new Iran sanctions Senators war over Wall Street during hearing for Trump's SEC pick Rand Paul roils the Senate with NATO blockade MORE (Tenn.), Mike CrapoMike CrapoSenators war over Wall Street during hearing for Trump's SEC pick Overnight Finance: Biz groups endorse Trump's Labor pick | New CBO score coming before health bill vote | Lawmakers push back on public broadcasting cuts Senate Banking panel seeks proposals for economic growth MORE (Idaho), Jim DeMint (S.C.), Dean HellerDean HellerRed-state Dems in Supreme Court pressure cooker This week: House GOP faces make-or-break moment on ObamaCare Shutdown politics return to the Senate MORE (Nev.), Ron JohnsonRon JohnsonLawmakers share photos of their dogs in honor of National Puppy Day GOP targets Baldwin over Wisconsin VA scandal The Hill's Whip List: 34 GOP no votes on ObamaCare repeal plan MORE (Wis.), James Risch (Idaho), Marco RubioMarco RubioSenators introduce new Iran sanctions Senate intel panel has not seen Nunes surveillance documents: lawmakers With no emerging leaders, no clear message, Democrats flounder MORE (Fla.), Rand PaulRand PaulPaul: Pence should oversee Senate ObamaCare repeal votes Healthcare fight pits Trump against Club for Growth GOP rep: Trump could be 'one-term president' if healthcare bill passes MORE (Ky.), Kelly AyotteKelly AyotteFEC commissioner to Trump: Prove voter fraud Live coverage: Day three of Supreme Court nominee hearing Lewandowski saw no evidence of voter fraud in New Hampshire MORE (N.H.), Pat RobertsPat RobertsDems mock House GOP over lack of women in healthcare meeting Perdue vows to be chief salesman for US agriculture abroad GOP senator apologizes for mammogram joke MORE (Kan.), Jeff SessionsJeff SessionsSanders: 'What do the Russians have on Mr. Trump?' Poll: Trump controversies make him more popular among supporters More than ever, Justice must demand a special prosecutor for Trump-Russia probe MORE (Ala.), John ThuneJohn ThuneLawmakers want infrastructure funded by offshore tax reform Senate GOP hedges on ObamaCare repeal timeline Week ahead: Robocall crackdown tops FCC meeting agenda MORE (S.D.), John BarrassoJohn BarrassoOvernight Energy: Trump's Keystone XL approval coming soon Overnight Finance: Senators spar over Wall Street at SEC pick's hearing | New CBO score for ObamaCare bill | Agency signs off on Trump DC hotel lease GOP senators offer bill to require spending cuts with debt-limit hikes MORE (Wyo.) and Pat Toomey (Pa.) were among those who voted against the motion.