Brown says no to bank bill 

Sen. Scott Brown, R-Mass., today sent a letter to the two authors of the House-Senate financial regulatory reform bill informing them he will not vote for the measure unless there are changes.
Specifically, Brown is opposed to $19 billion in bank fees added to the bill at the last minute. The fees were not part of the Senate version of the bill, which Brown supported.
“While some will try to argue this isn’t a tax, this new provision takes real money away from the economy, making it unavailable for lending on Main Street, and gives it to Washington,” Brown wrote in a letter to Senate Banking Committee Chairman Christopher Dodd, D-Conn. and House Financial Services Committee Chairman Barney Frank, D-Mass.  “That sounds like a tax to me.”
Brown, who during his campaign pledged to increase openness in the Senate, also complained about the way the fee was added to the bill, “in the dead of night without hearings or economic analysis.”
Brown’s defection leaves the Senate at least a couple of votes short of the 60 they need to pass the bill, which most Republicans oppose.

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