WASHINGTON — Democratic presidential candidate Hillary Clinton is urging lawmakers to push back on Republican efforts to insert banking provisions into a yearend budget bill.
The charge comes as Congress rushes to finalize a spending package by Dec. 11 to avert a government shutdown. The financial services industry has been lobbying hard for the inclusion of some regulatory relief measures in the deal, including a major bill by Banking Committee Chairman Richard Shelby, R-Ala. The banking industry also recently won a host of provisions in the highway bill, which the White House signed into law last week.
"President Obama and congressional Democrats should do everything they can to stop these efforts," Clinton wrote in a Dec. 7 New York Times op-ed.
She added that she "would not only veto any legislation that would weaken financial reform, but I would also fight for tough new rules, stronger enforcement and more accountability that go well beyond Dodd-Frank," reiterating her plan, unveiled earlier this fall, to improve the financial system.
The Democratic front-runner has said she would strengthen rules to rein in the big banks as well as the shadow banking system, improve funding of regulators and hold bankers involved in illegal activity accountable.
"Rather than pursuing the kind of high-stakes speculation that devastated our economy before, Wall Street should focus on building an economy that creates good-paying jobs, rising incomes and sound investments so that more families can achieve the security of a middle-class life," Clinton wrote in the op-ed.