Political Insight and Analysis From The Wall Street Journal’s Capital Bureau
By Greg Hitt
Legislation overhauling regulation of Wall Street isn’t even signed into law, and a top House Republican is already calling for it be overturned.
House Minority Leader John Boehner (R., Ohio) said the measure–which won final congressional approval Thursday but hasn’t yet been signed by President Barack Obama–“ought to be repealed.” Broadly, the GOP has accused the Democratic majority of crafting legislation that is too heavyhanded and imposes steep costs on the economy.
The call for repeal echoed of GOP attacks on the new health care law, and Democrats swiftly responded. Rep. Chris Van Hollen (D., Md.), who runs the House Democrats’ campaign arm, said the Republican leader “would prefer to sit back, do nothing, and bet on things getting better over time.” And in the Senate, a spokesman for Majority Leader Harry Reid (D., Nev.) said Republicans are standing with banks. “The ink hasn’t even dried yet on our bill,” the spokesman said.
“With Obama’s approval rating in the 40s – can anyone say why the 3 Republican senators from the New England states supported this bill?”
posted by rightthingtodo on July 16, 2010