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Hensarling, Waters Financial Deregulation Package Stalls Amid Dispute with Trump Administration

Submitted by jhartgen@abi.org on

One of the House's major bipartisan achievements this year — a sweeping financial deregulation package negotiated by the departing chair of the House Financial Services Committee Jeb Hensarling (R-Texas) and in-coming chair Rep. Maxine Waters (D-Calif.) — may be doomed, Politico reported. As Congress prepares to leave town in the coming days, Democrats are opposing efforts to attach the legislation to a year-end government funding bill. GOP Senate leadership hasn't scheduled a stand-alone vote, which some expect would fail. The stalemate comes as disagreements have cropped up among lawmakers and the Trump administration over a number of provisions in the bill, which the House passed on a 406-4 vote in July. Hensarling is willing to negotiate, but that may not be enough. "We are still working to try to see if it can be brought forward in one of the vehicles that moves, but that’s not resolved yet," Senate Banking Chairman Mike Crapo (R-Idaho) said in an interview. "The longer this takes, the less time there would be for an independent vote on it."