Reid says financial overhaul bill to move before Memorial Day

Senate Majority Leader Harry ReidHarry ReidDraft House bill ignites new Yucca Mountain fight Week ahead: House to revive Yucca Mountain fight Warren builds her brand with 2020 down the road MORE (D-Nev.) said Wednesday that Democrats would move financial overhaul legislation before the Memorial Day break.

"It's extremely important that we do something," Reid said.

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"It's something we're going to do before Memorial Day break. We're going to have to take this up and send a bill to the House to start a conference process."

Financial overhaul legislation is gaining urgency this week, with Senate Banking Committee Chairman Chris Dodd (D-Conn.) saying Thursday that he would unveil a bill on Monday without any firm Republican support.

Dodd and Sen. Bob CorkerBob CorkerThe Hill's 12:30 Report Senate Foreign Relations chair: Erdogan referendum win 'not something to applaud' Groups warn of rural health 'crisis' under ObamaCare repeal MORE (R-Tenn.) spent weeks negotiating a bipartisan package of reforms. But on Thursday Dodd said that there were "outstanding issues" and that he would move to introduce legislation without a firm deal. He is aiming to hold a markup the last week of the month.


Corker said that it was "disappointing" and that the lawmakers were on the "5-yard line" of negotiations.

Corker blamed the White House and the politics of healthcare for complicating the talks.

Dodd and Corker said they would continue negotiating.