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Brown Makes Deal, Will Vote 'Yes' On Financial Overhaul Bill

July 15, 2010 by  

Senator Scott Brown (R-Mass.) may have assured the upcoming passage of the Obama administration’s historically aggressive financial reform bill by announcing on Monday that he will support the measure when it comes up for vote this week.

Brown will join Senators Olympia Snowe (R-Maine) and Susan Collins (R-Maine) in backing the landmark bill, which is designed to increase government oversight on Wall Street.

"While it isn’t perfect, I expect to support the bill when it comes up for a vote," Brown said. "It includes safeguards to help prevent another financial meltdown, ensures that consumers are protected and it is paid for without new taxes."

However, the Boston Globe reports that Brown only agreed to vote for the bill after he forced Democrats to modify its language to aid two Massachusetts-based companies, State Street Bank and MassMutual.

The senator’s change of heart has angered many conservative Massachusetts’ residents who voted for him earlier this year, including local Tea Party members.

"Scott Brown promised in the fall of 2009 to stand up for free markets and constitutional principles," said the activists, quoted by Fox News.

"A yes vote on this bill—a bill that greatly expands executive authority and reach, creates a perpetual and permanent bail-out system and fosters the creation of even more bureaucracy—defies the commitment he made to thousands of activists and donors across the nation," they added.

Senate Majority Leader Harry Reid (D-Nev.) is expected to call for a vote on the measure in the coming days.

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