Rumor: Wall Street Reform Heading Back To Conference Committee

If you will recall, both houses of Congress passed a version of "Wall Street Reform," and it went to the conference committee. There, a compromise was reached... and $19 billion in tax increases on banks were added to the bill.

That was fine. Until Senator Byrd passed away and Scott Brown said he couldn't support the bill with those taxes in it. Suddenly passage in the Senate looked problematical. They may not have the votes.

At this point, I'm hearing rumors from multiple sources that the bill may head BACK to the conference committee to have the $19 billion tax portion modified or eliminated.

So, let's wait and see what happens with this.