Wall Street Bill Clears Critical Hurdle

Posted July 15, 2010 at 10:33am

Updated: 11:46 a.m.

The Senate could be just hours away from handing President Barack Obama another major legislative victory, after voting Thursday to beat back a GOP-led filibuster of a sweeping Wall Street regulation bill.

Senate Democrats secured the bare minimum 60 votes to overcome a filibuster and set up a final vote on the conference report on the bill. Three Republicans — Sens. Olympia Snowe (Maine), Susan Collins (Maine) and Scott Brown (Mass.) — joined 57 Democrats in opposing the blockade, while Wisconsin Sen. Russ Feingold was the lone Democrat voting with Republicans to stop the measure from moving forward.

The Senate is expected to vote at 2 p.m. on another 60-vote hurdle for the bill, and then, assuming Democrats prevail, the chamber will vote on final passage.