SPONSORED:

Feingold will vote 'no' on Wall Street bill

The move raises pressure on Senate Democrats to win the votes of Sen. Maria CantwellMaria Elaine CantwellSenate Democrats threaten to block 2026 World Cup funds unless women's soccer team get equal pay Senate confirms Biden's top scientist Senate chaos: Johnson delays exit as votes pushed to Friday MORE (D-Wash.) and a handful of Senate Republicans.

Senate Democrats aim to pass the Wall Street overhaul bill this week, but the passing of Sen. Robert Byrd (D-W.Va.) has given them little room to negotiate votes. House and Senate lawmakers finalized the legislation in a conference process early Friday morning.

"As I have indicated for some time now, my test for the financial regulatory reform bill is whether it will prevent another crisis," Feingold said in a statement. "The conference committee's proposal fails that test and for that reason I will not vote to advance it."

ADVERTISEMENT

Feingold and Cantwell voted against ending debate on the bill in May and against the overall bill. Democrats were able to advance the legislation with the help of Republican Sens. Scott Brown (Mass.), Olympia Snowe (Maine) and Susan CollinsSusan Margaret CollinsSenate confirms Radhika Fox to lead EPA's water office Pelosi says she's giving Senate more time on Jan. 6 commission Overnight Energy: Schumer to trigger reconciliation process Wednesday | Bipartisan bill would ban 'forever chemicals' in cosmetics | Biden admin eyes step toward Trump-era proposal for uranium reserve MORE (Maine).

Brown has expressed disappointment at the final bill that passed through the conference committee. If he votes against the legislation in the Senate, Democrats will need to hold the rest of the votes they had in May and swing either Cantwell or another Republican to advance the bill.

Collins is reviewing the legislation, according to her office, and has not firmly committed to back the bill.

Sen. Chuck GrassleyChuck GrassleyFive takeaways on the Supreme Court's Obamacare decision On The Money: Yellen, Powell brush off inflation fears | Fed keeps rates steady, upgrades growth projections Overnight Health Care: US buying additional 200M Moderna vaccine doses | CureVac's COVID-19 vaccine failed in preliminary trial results | Grassley meets with House Dems on drug prices MORE (R-Iowa) voted for the underlying legislation in May, but voted against cutting off debate.