Hoyer confident financial bill will pass before July 4

House Majority Leader Steny Hoyer voiced confidence Wednesday that Congress would be able to reach agreement and approve final passage of the financial reform bill before July 4.

Hoyer (D-Md.) told reporters that Rep. Barney Frank (D-Mass.), who is leading the conference committee to reconcile separate House and Senate versions, has set “a very aggressive schedule” that calls for a final vote to occur in the days before the next congressional recess.

Congressional leaders, with pressure from the White House, had set a goal of completing the financial regulatory overhaul by July 4.

“He seems pretty confident that he can do that, and we’re hopeful that he can do that,” Hoyer said of Frank, who shepherded the initial legislation through the House.

The House will name its conferees Wednesday, with the first meeting set for Thursday. Hoyer said the conference would be televised, as had been planned.