Bank overdraft fees would be sharply curtailed under a bill introduced in the U.S. Senate on Monday, adding to a raft of regulatory challenges for banks.
The legislation offered by Senate Banking Committee Chairman Christopher Dodd and five other Democratic senators would curb fees that some banks are already backing away from.
Under the Dodd bill, banks could not slap overdraft fees on cash-machine and debit-card transactions unless customers have specifically opted in to an overdraft protection program.
A key Democrat voiced confidence on Sunday that Senate leaders will include a government-run insurance plan in the healthcare bill they bring to the full U.S. Senate for consideration — and suggested it might even pass.
Senator Chris Dodd acknowledged that there is plenty of opposition to the so-called public option from Republicans as well as fiscally conservative Democrats.
Yet noting what has happened to other embattled legislation over the years, Dodd said, “when you end up on the floor of the Senate, you find, sometimes, you get more” support than earlier anticipated.
For Democrats determined to get a health care bill, Sen. Roland Burris is like the house guest who couldn’t be refused, won’t soon be leaving and poses a plausible threat of ruining holiday dinner.
Suddenly, he can no longer be ignored.
The Illinois Democrat, appointed by disgraced former Gov. Rod Blagojevich, says he’ll only vote for a bill to provide health care to millions more Americans as long as it allows the government to sell insurance in competition with private insurers.
And he says he won’t compromise.
“I would not support a bill that does not have a public option,” Burris, 72, said in a recent interview with The Associated Press. “That position will not change.”
Top Senators working with the White House to merge rival health care bills reported no breakthroughs after a first day of talks but promised that “failure is not an option.”
The congressional front of US President Barack Obama’s historic fight to remake health care has moved behind closed doors as his Democratic allies seek a consensus bill before final votes in the Senate and House of Representatives.
Democratic Senate Majority Leader Harry Reid hosted talks with top White House aides including chief of staff Rahm Emanuel, as well as Senate Finance Committee Chairman Max Baucus and Senator Christopher Dodd, who shepherded a version of the legislation through the Senate’s health committee.
Historic legislation to expand U.S. health care and control costs won its first Republican supporter Tuesday and cleared a key Senate hurdle, a double-barreled triumph that propelled President Barack Obama’s signature issue toward votes this fall in both houses of Congress.
“When history calls, history calls,” said Maine Republican Olympia Snowe, whose declaration of support ended weeks of suspense and provided the only drama of a 14-9 vote in the Senate Finance Committee. With her decision, the 62-year-old lawmaker bucked her own leadership on the most high-profile issue of the year in Congress, and gave the drive to remake health care at least a hint of the bipartisanship that Obama seeks.
A proposed tax on high-cost, or “Cadillac,” health insurance plans has touched off a fierce clash between the Senate and the House as they wrestle over how to pay for legislation that would provide health benefits to millions of uninsured Americans.
Supporters, including many senators, say that the tax is essential to tamping down medical spending and that over 10 years it would generate more than $200 billion, nearly a fourth of what is needed to pay for the legislation.
Critics, including House members and labor unions, say the tax would quickly spiral out of control and hit middle-class workers, people more closely associated with minivans than Cadillacs.
Some of the progressives who helped put Nancy Pelosi and Harry Reid in power are demanding that they come down hard on House Ways and Means Committee Chairman Charles Rangel and any Senate committee chairmen who stray from the flock on health care reform.
Don’t hold your breath.
While three Democratic insiders say leaders have privately discussed the possibility of ousting Rangel or asking him to step aside, there has been no move to approach the New York Democrat — and aides to Pelosi have made it clear that she won’t do anything about him until the House Ethics Committee finishes its probe.
That doesn’t sit well with Markos Moulitsas and Arianna Huffington, two stars of the liberal blogosphere who’ve joined House Republicans in calling for Rangel’s ouster.
President Barack Obama’s plan to remake the nation’s health care system is about to take its biggest step yet toward becoming reality.
The pivotal Senate Finance Committee was poised to approve sweeping legislation Tuesday requiring nearly all Americans to purchase insurance and ushering in a host of other changes to the nation’s $2.5 trillion medical system.
Much work would lie ahead before a bill could arrive on Obama’s desk, but action by the Finance Committee would mark a significant advance, capping numerous delays as Chairman Max Baucus, D-Mont., held marathon negotiating sessions — ultimately unsuccessful — aimed at producing a bipartisan bill.
Insurance companies aren’t playing nice any more. Their dire message that health care legislation will drive up premiums for people who already have coverage comes as a warning shot at a crucial point in the debate, and threatens President Barack Obama’s top domestic priority.
Democrats and their allies scrambled on Monday to knock down a new industry-funded study forecasting that Senate legislation, over time, will add thousands of dollars to the cost of a typical policy. “Distorted and flawed,” said White House spokeswoman Linda Douglass. “Fundamentally dishonest,” said AARP’s senior policy strategist, John Rother. “A hatchet job,” said a spokesman for Senate Finance Committee chairman Max Baucus, D-Mont.
Congress is set to allow the Pentagon to keep new pictures of foreign detainees abused by their U.S. captors from the public, a move intended to end a legal fight over the photographs’ release that has reached the Supreme Court.
Federal courts have so far rejected the government’s arguments against the release of 21 color photographs showing prisoners in Afghanistan and Iraq being abused by Americans.
The Obama administration believes giving the imminent grant of authority over the release of such pictures to the defense secretary would short-circuit a lawsuit filed by the American Civil Liberties Union under the Freedom of Information Act.