Senate

Reid sets stage for next vote on China currency bill

Senate Majority Leader Harry Reid (D-Nev.) filed a cloture motion on Tuesday night to end debate on the pending Chinese currency bill.

The legislation, designed to pressure the Chinese government to stop undervaluing its currency, already cleared one important hurdle on Monday night, advancing to the first stage of debate by a vote of 79-19. That strong show of support indicates the bill could very well clear the upper chamber by week’s end.

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McConnell: Obama intentionally sowing discord in Congress

Senate Minority Leader Mitch McConnell (D-Ky.) charged the White House from the Senate floor on Tuesday of engineering partisan strife in Congress in order to reap political gain.

“The political operators over at the White House seem to believe that they benefit from the appearance of gridlock,” said McConnell.  “They’re over there telling any reporter who will listen that they plan to run against Congress next year. … So that’s their explicit strategy — to make people believe that Congress can’t get anything done.”

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Senate settles in for currency debate

The Senate is set to begin a week of debate on the China currency bill after the body voted to bring it to the floor by 79-19 on Monday evening.

Despite harsh criticism from some in the GOP, who argued there are more pressing issues the upper chamber should consider, Senate Majority Leader Harry Reid (D-Nev.) said the legislation, which he argues would create jobs, will probably dominate the Senate’s attention until at least the end of the week.

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Durbin urges Bank of America customers to abandon institution over ‘Durbin fee’

Assistant Senate Majority Leader Dick Durbin (D-Ill.) struck back at Bank of America on Monday for implementing a new $5 monthly debit card fee, in what the bank said was a response to legislation created by Durbin that limits the price banks can charge for swipe fees.

“Bank of America customers, vote with your feet,” said Durbin on the Senate floor, his voice rising. “Get the heck out of that bank. Find yourself a bank or a credit union that won’t gouge you with $5 a month and will still give you a debit card you can use every single day.”

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Reid selling currency bill as jobs legislation

Senate Majority Leader Harry Reid (D-Nev.) on Monday defended his decision to dedicate the first week of this work session to the China currency bill as a way to create jobs and stimulate the economy. 

“My colleagues – both Democrats and Republicans – agree that China’s deliberate actions to devalue its currency give its goods an unfair competitive advantage in the marketplace,” Reid said. “That hurts our economy and it costs American jobs.”

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