Senate Republicans are introducing legislation to repeal the Wall Street reform law in its entirety, breaking with House Republicans who have opted for a go-slow approach to rolling back the regulatory overhaul.
Sen. Jim DeMint (R-S.C.) announced Friday he will introduce legislation to repeal the Dodd-Frank financial reform law and said the bill has 18 co-sponsors, including the entire Senate Republican leadership.
"We must repeal the Democrats’ takeover of the financial markets that favors Wall Street corporations, over-regulates small businesses with massive new bureaucracy and hurts consumers,” said DeMint in a statement.
“This financial takeover will strangle our economy and move jobs overseas unless it is repealed." The bill has attracted a variety of Republican co-sponsors, ranging from the most senior members of the caucus to fiscally conservative freshmen.