FFS. An amendment is NOT a bill.

[namahage]

No matter what any unsourced article says.

http://www.senate.gov/pagelayout/reference/b_three_sections_with_teasers/glossary.htm

amendment - A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, the Senate must agree to it.

bill - The principal vehicle employed by lawmakers for introducing their proposals (enacting or repealing laws, for example) in the Senate. Bills are designated S. 1, S. 2, and so on depending on the order in which they are introduced. They address either matters of general interest ("public bills") or narrow interest ("private bills"), such as immigration cases and individual claims against the Federal government.

What was voted down was an amendment.

This is the bill (S.896).

[tritsofme]

1. This was its time to shine.

Most likely won't be another vote on the issue during this Congress.

At least that's my understanding.

[Aloha Spirit]

2. I thought Reid said it would be brought up again fairly soon?

[karynnj]

9. Even if it is, it got only 45 votes - how do we get it up to 60?

Because it is not in the budget, I think that you have to "waive the budget" which requires 60 votes. It may have been this was doomed from the moment it was not included in the budget. (It might even be that there was fear that they wouldn't get the needed 50 votes for the budget with it in.)

[namahage]

11. And how many of those No votes on the D side were precisely BECAUSE

there was no way to get it to 60?

[karynnj]

12. If that were the case, it was even more important to get it in the budget

if there were at least 50 that would have voted for the budget with it in.

I assume you are meaning that some, who thought voting for it would have a political consequence didn't, because they knew the votes weren't there.

[slipslidingaway]

3. knr...Senate defeats 'cramdown' legislation

http://thehill.com/leading-the-news/senate-defeats-cramdown-legislation-2009-04-30.html

"The Senate on Thursday shot down a controversial housing bill supported by the White House yet widely opposed by the financial industry...


A dozen trade associations, including the American Bankers Association, Financial Services Roundtable and Independent Community Bankers of America, wrote to senators this week that the bill “would make things worse by adding even more risk to the mortgage market.”

Obama supports the bankruptcy provision, but the administration did not mount a full lobbying push on Capitol Hill. Treasury Secretary Timothy Geithner gave the bill lukewarm support in congressional testimony.

Administration officials have said that while it was part of the president’s efforts to support the housing market, it was not necessarily the centerpiece..."

[Aloha Spirit]

4. I'm starting to think something's up with the stress tests coming out next week

It could be the banks are going to be swallowing a massive pill soon and that the timing for this was not helpful.
Orszag was cagey but excited when asked about what would be coming out next week on the stress tests.
Just thinkin out loud.

[slipslidingaway]

5. It appears they will be delayed while the results are debated...

U.S. Stress Test Results Delayed as Early Conclusions Debated

http://www.bloomberg.com/apps/news?pid=20601103&sid=aYN.RjdIR9Hg

[karynnj]

6. That's all semantics - the fact is that it was legislation and it was voted down

It doesn't matter that they attempted to do it via an amendment. Incidentally, this is also used when we are told that a presidential candidate has written few bills that passed. that ignores that many "bills" introduced in Congress become law by either being incorporated in or being appended to a broader, even sometimes unrelated bill. When a bill is introduced, it is referred to the relevant committee. Many, if not most bills simply die there. In some cases,

The committees often will take a bill and add it usually with some modifications to a broader omnibus bill. A recent example is that the stimulus bill included many "bill" introduced in the past. One example is that Kerry and Specter introduced a high speed rail bill in November 2008. Obviously Kerry introduced it in November to get more support behind it so that it could be part of the stimulus that everyone knew would be developed. In this case, it was added as a Kerry provision by the Finance committee that Kerry sits on. Here is info on the November 2008 introduction - http://www.dailykos.com/story/2008/11/25/95822/061 It is very likely that much of the legal wording of that provision is identical to Kerry's bill. Is HSR less important because it was just a provision in a big bill than it would have been had it been passed as stand alone legislation?

Here, the amendment was an important piece of legislation and it was first not included in the budget or stimulus package and was defeated. The damage is the same - it would have almost certainly become law had the amendment passed - and now it won't.

[Aloha Spirit]

7. I think what the OP wanted to remind people is that it's much easier to reintroduce the

language of an amendment back into the bill in conference or whatever than it is to reintroduce a bill.

[karynnj]

8. True, but the OP diminishes that this was a loss

and a bill can be submitted as an amendment or rolled into legislation. Here, many thought this deserved to be in the budget. The key is that the it is likely the Finance committee people who voted against it as an amendment, who kept it out of the budget - which hurt as that might have been the only way to pass it. That might well be behind Durbin's unusual comment that the banks own the Senate. This is not going to be easy to pass as an amendment - note it would need 60 to pass and it got just 45.

[Aloha Spirit]

10. Do you think the stress test results next week will weaken or strengthen or do nothing

to the banks' position wrt renegotiating mortgages in court?
I think some banks may be taking a big blow next week, and that it could change the debate on this--well, not necessarily this particular piece of legislation.
On the other hand, if this had passed, then the banks would be taking two big hits in a row.
I would like the amendment to have included more guidance on what mortgages can be changed, and am optimistic something good will come out of the stress tests to put pressure on the banks.

[karynnj]

13. Interesting questions - and I really can't make a case either way

Maybe someone here with more insight could. My concern is that stemming foreclosures is important, especially to the owners, of course, but also to the communities. We can't be healthy if most communities are hurting and communities will be hurting if large numbers of residents lose their homes and the homes remain vacant.