Republicans and Democrat Ben Nelson block advance of Financial Reform bill

Washington Post: Republicans voted unanimously Monday to block an effort to overhaul financial regulations from reaching the Senate floor, pledging to hold out for significant changes to the bill even as they acknowledged the political risk of appearing to obstruct a popular cause.

The 57 to 41 vote in favor of beginning debate, short of the 60 needed, was expected, although Democrats did suffer an unanticipated defection when Sen. Ben Nelson (Neb.) joined Republicans as a no. Senate Majority Leader Harry M. Reid (D-Nev.) was prepared to call further votes Tuesday, Wednesday and beyond.

"We need to keep the pressure on to get a deal as quickly as possible," Reid spokesman Jim Manley said. [MORE]

Let the game begin. Harry Reid and the Democrats aren’t really that serious about reforming the financial industry. If they were, how come such troublesome things like, Fanny Mae, Freddy Mac, the sub prime mortgage market or Mortgage Backed Securities are not addressed? These were the things that damn need brought down our financial house.  Instead, what we get is another 1300+-page bill, which seeks to give government more control over the private sector.

Democrats are looking for issues to run on in November. By trying to paint Republicans as defenders of Wall Street excess, they hope to give themselves something else to run on other than ObamaCare. Look for Reid to drag out this bill for all it is worth.

Ben Nelson is also playing a game here too. He wants to distance himself from Reid and Pelosi whenever and wherever possible in a sorry attempt to erase the memory of the Cornhusker Kickback. Good luck with that, Ben! In the end, should a significant Republican issue be addressed in a rewrite of the bill, old Ben will be right back on board with the Democrats.

Via: Memeorandum

Via: The Washington Post

Via: banking.senate.gov

Senator Ben Nelson caves on Senate Health Care bill

I knew this was coming. Ben Nelson has reached an agreement on the Senate Health Care reform bill and will vote for cloture. Basically, like Senator Mary Landrieu, Nelson was bought off.

From The Washington Post, we learn what Nelson’s price was:

Under the new abortion provisions, states can opt out of allowing plans to cover abortion in the new insurance exchanges the bill would set up, to serve individuals who lack coverage through their jobs. Plus, enrollees in plans that do cover abortion procedures would pay for the coverage with separate checks -- one for abortion, one for the rest of any health-care services.

Nelson secured full federal funding for his state to expand Medicaid coverage to all individuals below 133 percent of the federal poverty level. Other states must pay a small portion of the additional cost. He won concessions for qualifying nonprofit insurers and for Medigap providers from a new insurance tax, and was able to roll back cuts to health savings accounts.

So Nelson’s price was an agreement that allows him to look like he is supporting a tougher abortion ban (it’s not, see Hot Air for details) and the nation picking up part of Nebraska’s Medicaid costs. 

Nelson is a bigger fool than I ever imagined. If Nelson thinks any of this will remain once the House and Senate meet to hammer out a combined bill, then he is an ass. For final passage Reid only needs 51 votes (Reconciliation). If Reid is half the weasel I think he is, he as already worked out the proper combination of senators who will give him those 51 votes.  It is those 51 senator’s reservations that Reid will use to negotiate with the House.  Landrieu, Lieberman and Nelson’s deals will be tossed to the wayside.

Via: Memeorandum

Via: The Washington Post

Via: Hot Air

Via: Talking Points Memo

Senator Ben Nelson currently a "no" on ObamaCare

From The Hill:

Centrist Democratic Sen. Ben Nelson (Neb.) said Thursday he won't vote to advance the Senate healthcare bill unless it's changed. 

Nelson said more stringent restrictions on the use of federal funds for abortion must be included in the bill if it is to win his vote.

"If it's not at the point where I think it needs to be with the improvements that I'm pushing — and they've made a lot of them — then I will not vote for cloture on the motion to end debate," Nelson said in an interview on KLIN radio in Nebraska. 

"There's a lot of improvement on the legislation but the basic question on funding for abortion hasn't been answered yet," he said.

[SNIP]

Nelson's is also concerned about the level of new spending in the bill, particularly the financial burden it could place on state Medicaid budgets, as well as the taxes included to finance it. The spending provisions could create an "underfunded federal mandate for the state of Nebraska," Nelson said.

"If you're going to extend coverage then obviously there has to be a way to raise the money. The way in which money is raised is not acceptable," he said. "So if there isn't a way to raise the money in tight times, I think you have to look at a scaled-back version."

I am not holding out a lot of faith in Ben Nelson causing ObamaCare to crash and burn for several reasons.

Just in case Ben Nelson is willing to do the right thing and slay this bill, we should all give our support. Here  are the contact numbers for his offices. Let him know, it is OK to kill ObamaCare and send them back to the drawing board.

Omaha
7602 Pacific St.
Suite 205
Omaha, NE 68114
Tel: (402) 391-3411
Fax: (402) 391-4725

Lincoln

440 North 8th Street
Suite 120
Lincoln, NE 68508
Tel: (402) 441-4600
Fax: (402) 476-8753

Washington, D.C.
720 Hart Senate Office Building
United States Senate
Washington, DC 20510
Tel: 1-202-224-6551
Fax: 1-202-228-0012

Scottsbluff
Tel: (308) 631-7614

Kearney
Tel: (308) 293-5818

South Sioux City
Tel: (402) 209-3595

Via: Memeorandum

Via: The Hill