“There are at least three independent studies recently that underscore that ‘Too Big To Fail’ is still alive and well,” Vitter said. “’Too Big To Fail’ policies are creating an unfair playing field for smaller banks.”
Brown and Vitter argue that the Dodd-Frank financial reform law didn’t do enough to keep large banks in check. They say that if banks are still “Too Big To Fail,” they have an unfair advantage and are able to borrow more money since lenders believe they would be bailed out if a risky investment fails.
The Senate also voted on the following budget amendments:
- Sen. Mark WarnerMark Robert WarnerPressure grows for breakthrough in Biden agenda talks Fill the Eastern District of Virginia GOP tries to take filibuster pressure off Manchin, Sinema MORE (D-Va.) amendment 693, to stop the repeal of the estate tax without offsetting the revenue, passed 80-19.
- Sen. John ThuneJohn Randolph ThuneGOP rallies around Manchin, Sinema McConnell gets GOP wake-up call Democrat on controversial Schumer speech: Timing 'may not have been the best' MORE (R-S.D.) amendment 307, to permanently eliminate the federal estate tax, failed 46-53.
- Sen. Jack ReedJack ReedLIVE COVERAGE: Senators press military leaders on Afghanistan Top Republican: General told senators he opposed Afghanistan withdrawal We have a plan that prioritizes Afghanistan's women — we're just not using it MORE (D-R.I.) amendment 482, to provide funding for low-income weatherization and energy efficiency retrofit programs, passed by voice vote.
- Sen. Mary LandrieuMary Loretta LandrieuCassidy wins reelection in Louisiana Bottom line A decade of making a difference: Senate Caucus on Foster Youth MORE (D-La.) amendment 314, to fix Congressional Budget Office scoring on leases of major medical facilities of the Department of Veterans Affairs, passed by voice vote.
- Sen. Tom UdallTom UdallOvernight Defense: Milley reportedly warned Trump against Iran strikes | Pulitzer Prize-winning photographer killed in Afghanistan | 70 percent of active-duty military at least partially vaccinated Biden nominates former Sen. Tom Udall as New Zealand ambassador Senate Democrats befuddled by Joe Manchin MORE (D-N.M.) amendment 483 to create royalty fees for hardrock mineral mined on federal land, passed by voice vote.
- Sen. Jon TesterJonathan (Jon) TesterSenate to vote next week on Freedom to Vote Act Democrats struggle to gain steam on Biden spending plan The Hill's 12:30 Report: Debt ceiling fight punted to December MORE (D-Mont.) amendment 537, to authorize children who are eligible to receive healthcare furnished under laws administered by the Secretary of Veterans Affairs to retain such eligibility until age 26, passed by voice vote.
- Sen. Pat Toomey (R-Pa.) amendment 535, to repeal the tax increase on catastrophic medical expenses created by the Affordable Care Act, failed 45-54.
- Sen. Robert CaseyRobert (Bob) Patrick CaseyDemocrats struggle to gain steam on Biden spending plan Building back better by investing in workers and communities Barletta holds wide lead over GOP rivals in early poll of Pennsylvania governor race MORE (D-Pa.) amendment 442, to fund Edward Burn Memorial Justice assistance grants for state and local law enforcement, passed by voice vote.
- Sen. Dan CoatsDaniel (Dan) Ray CoatsOvernight Hillicon Valley — Scrutiny over Instagram's impact on teens Former national security officials warn antitrust bills could help China in tech race Cyber preparedness could save America's 'unsinkable aircraft carrier' MORE (R-Ind.) amendment 514, to allow presidential exemptions from the rule of the Environmental Protection Agency — the Mercury and Air Toxins Standard — for power plants that need additional time to meet standards, failed 46-53.
- Sen. Ben CardinBenjamin (Ben) Louis CardinDefense & National Security — Military starts giving guidance on COVID-19 vaccine refusals Blinken pressed to fill empty post overseeing 'Havana syndrome' GOP disappointment with McConnell deal could delay vote MORE (D-Md.) amendment 273, to improve oral healthcare for children with Medicaid coverage, passed by voice vote.
- Sen. Mike LeeMichael (Mike) Shumway LeeRetreating economy creates new hurdle for Democrats in 2022 McConnell vows GOP won't help raise debt ceiling in December after Schumer 'tantrum' Senate locks in deal to vote on debt ceiling hike Thursday MORE (R-Utah) amendment 373, to provide a point of order against budgets spending more on net interest payments on the debt than on national defense, and to ensure the government funds its military at higher levels than the militaries of foreign holders of its debt, failed 46-53.