(News Terupdate) - Continuing to hit on environmental and economic topics, President Obama will wrap up his "White House to Main Street Tour" Wednesday with stops in Illinois and Missouri.
Obama will tour a biorefining plant in Macon, Missouri, on Wednesday afternoon and talk with workers about economic issues, according to the White House. He was expected to discuss Wall Street reform during an appearance in Quincy, Illinois.
On Tuesday, Obama told a crowd in Ottumwa, Iowa, that it is "not right" for Republicans to prevent a Wall Street reform proposal from coming up for debate in the Senate.
Senate Republicans blocked a motion Tuesday to begin debate on a bill that would overhaul financial regulations. The GOP senators say the proposal is too broad and needs to be tightened in closed-door talks with Democrats before coming to the Senate floor for debate.
In his Ottumwa appearance, Obama challenged Republicans to allow a public debate on Wall Street reforms.
"The American people deserve an honest debate this bill." Obama told the crowd. "You should not have to have to wait one more day."
The proposed reforms are intended to prevent another Wall Street meltdown like the one that led to the U.S. recession, Obama said.
"We can't let another crisis like this happen again," he said. "We can't have such a short memory that we let them convince us that we don't need to change the status quo."
Senate Democrats have accused their Republican counterparts of stalling momentum on the bill in an attempt to water it down.
Republican leaders have identified their main concern as a Democratic plan to set up a consumer watchdog agency to protect against lending abuses such as unfair credit card charges and mortgage practices.
The votes Monday and Tuesday on opening debate were intended to generate public pressure on the Republicans by raising awareness of their opposition to moving forward on the popular issue. A third vote on launching debate on the measure is scheduled for Wednesday afternoon.
One moderate Republican, Sen. George Voinovich of Ohio, indicated Tuesday he would switch his vote from 'no' to 'yes' if negotiations on the bill between Sen. Christopher Dodd, D-Connecticut, and Sen. Richard Shelby, R-Alabama, fail to reach agreement soon.
The American people "want us to get something done," Voinovich said in explaining why he would eventually join Democrats in insisting the bill be debated on the floor.
Voinovich wouldn't say how long he would wait before switching his vote, but added, "I have an idea of how much time it takes to cut a deal." According to Voinovich, "a whole bunch" of other Republicans are likely to make the same decision.
Dodd and Shelby have repeatedly said they were close to a deal, with agreement on most of the issues. However, Sen. Bob Corker, R-Tennessee, who also has taken part in negotiations, said Tuesday he was "far less optimistic" that a deal would come anytime soon.
Obama's remarks in Illinois on Wednesday will continue to focus on Wall Street reform legislation, the White House said.
In addition to the visit to a biorefining plant, Obama's time in Missouri earlier in the day will include a visit to a farm near the town of Palmyra, according to the president's schedule.
Obama kicked off the White House to Main Street tour in December with a visit to the Lehigh Valley area of Pennsylvania. Since then, the president has made stops in Lorain County, Ohio, and Savannah, Georgia.
The tour is explained on the White House Web site as an effort to "spend some time outside of Washington and talk to American families about what they are experiencing during these tough economic times."
In segments of the tour, "the President will regularly visit communities across the country and meet with members of the community and share ideas for rebuilding our economy for the long term," the Web site says.
Source : CNN
Sunday, May 2, 2010
Obama pushes for Wall Street reform on Main Street tour
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