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House Panel to Vote on GOP Dodd-Frank rewrite 

May 4, 2017

Sylvan Lane, The Hill

The House Financial Services Committee is expected to vote Wednesday on a Republican bill to uproot the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The panel began marking up on Tuesday the Financial CHOICE Act, sponsored by Chairman Jeb Hensarling (R-Texas), which would repeal major parts of the post-recession financial regulation. Federal agencies and authorities created and expanded by the law would be drawn back and conducted in closer oversight of Congress, all long-sought GOP goals.

After the committee recessed at midnight Wednesday, the mark up resumed shortly after 9 a.m., when the panel rejected several Democratic amendments on party-line votes. Democrats are fiercely opposed to the bill and have been prolonging the contentious hearing in protest. 

An additional round of amendment votes is expected Wednesday evening. A vote on recommending the bill for passage will likely occur before the House is scheduled to recess on Thursday morning.

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