Republican Leader Says Agreement Reached on Wall Street Reform Bill

Senate Minority Leader Mitch McConnell, R-Ky., just put out a statement saying he has received “assurances” that changes will be made to the Democrats’ financial regulatory reform bill that will ensure that it does not perpetuate big bank bailouts.

McConnell does not go so far as to say the party is ready to stop blocking debate on the bill, but he hints at it, saying further talks will not bring the two sides closer to agreement on several other differences they have.

“It is my hope that the majority’s avowed interest in improving the legislation on the Senate floor is genuine and the partisan gamesmanship is over,” McConnell said.

Democrats have been arguing that Republicans should allow debate to proceed so they can try to make changes to the bill through the amendment process.

Republicans will have a meeting at 4:30 p.m. to decide on their course of action, but it sounds like the blockade is over.

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