Senate Plans Vote On Bid To Delay Debit Rule
WASHINGTON – Senate Majority Leader Harry Reid plans to hold a vote on a proposal to delay the cap on debit fees, even as the Senate leader says he is opposed to the delay.
Reid’s office confirmed yesterday the Senate will give backers of the delay a vote on their bill, which will need a 60-vote majority to pass because of plans by Sen. Richard Durbin, the sponsor of the debit rule, to filibuster the delay.
Reid voted for Durbin’s amendment that was part of last year’s Wall Street reform bill.
It’s not clear when the Senate will vote the delay, but it is expected to be before the July 21 implementation deadline for the debit rule.