Rewrite Of Senate Bill Could Let Feds Spy On E-mail Without Obtaining A Search Warrant

us capitol building SC Rewrite of Senate bill could let feds spy on e mail without obtaining a search warrant

Alas, the holiday season is upon us and instead of exemplifying gratitude or imagining sugar plums in our heads, Congress is set to shred our Fourth Amendment and dump the confetti in our stockings.

Note: don’t forget to check out Brent’s other recent articles, “Secession petitions in full swing in all 50 states after presidential election” and “Civil forfeiture law could result in hotel owners losing their business“

According to chief political correspondent for CNET, Declan McCullagh, a Senate proposal originally was going to protect e-mail privacy until law enforcement complained.

Those complaints prompted Democratic chairman of the Senate Judiciary Committee, Patrick Leahy, to rewrite the bill as a package of amendments, which essentially allows the authorization of warrantless access to American’s e-mails.

Note: These efforts to undermine our Constitutional rights are hardly surprising given that a federal judge recently ruled that police can place hidden surveillance cameras on private property without obtaining a warrant.

Read More at endthelie.com . By Brent Daggett.

Senate Candidates In Tough Races Raise $57M

us capitol building SC Senate candidates in tough races raise $57M

Candidates locked in the nine tightest Senate races in the country raised over $57 million in the third fundraising quarter.

Several of these races remain too close to call, and these funds will be used to boost the candidates out of the margin of error and into the lead in the final three weeks of their campaigns.

Elizabeth Warren, Democrat for Senate in Massachusetts, announced raising the largest haul — and outraised her opponent by the largest amount — of them all, and perhaps the largest of any Senate candidate nationwide. She raised $12.1 million in the third quarter, bringing her year-to-date fundraising total to $36.3 million — over $8 million more than GOP opponent Sen. Scott Brown.

Brown’s campaign said he brought in a considerable sum as well, but at $7.54 million, his fundraising total for the third quarter fell far short of Warren’s. He’s raised nearly $27.5 million for the year.

Democratic Rep. Joe Donnelly, running for Senate in Indiana, faces a disadvantage similar to Brown’s. Opponent Richard Mourdock raised twice as much as him in the third quarter, bringing in a $3 million haul.

Read More at The Hill . By Alexandra Jaffe.

The Real Prize: The Senate

Senate SC The Real Prize: The Senate

While we have been preoccupied with presidential politics, the real prize is the U.S. Senate, which is currently in the hands of the Democrats. The House will undoubtedly stay in the hands of the GOP; but should the Republicans take over both houses of Congress, they will be in a better position to pass legislation to move the country forward again. Back in February, I wrote a column entitled, “Who is going to run on the coattails of the President?” Here we are, eight months later, and Democrats are still keeping the President at arm’s length. I have even seen local Democratic Headquarters promoting local candidates, but there has been no mention of Mr. Obama. Frankly, it’s somewhat ironic to see the President become a pariah of his own party after he turned the country against George W. Bush in 2008. I guess what goes around, comes around.

As I mentioned in the February article, there are many people retiring from Congress with a new set of candidates running to replace them, but the following Senatorial incumbents bear watching:

California: Dianne Feinstein (D)
Delaware: Tom Carper (D)
Florida: Bill Nelson (D)
Maryland: Ben Cardin (D)
Michigan: Debbie Stabenow (D)
Minnesota: Amy Klobuchar (D)
Missouri: Claire McCaskill (D)
Montana: Jon Tester (D)
New Jersey: Bob Menendez (D)
New York: Kirsten Gillibrand (D)
Ohio: Sherrod Brown (D)
Pennsylvania: Bob Casey, Jr. (D)
Rhode Island: Sheldon Whitehouse (D)
Vermont: Bernie Sanders (I)
Washington: Maria Cantwell (D)

Aside from most being Democrats, this list represents all of the incumbent Senators who voted for both Obamacare and the President’s failed stimulus programs. Yet, when you visit their election web sites, you will find little regarding how they voted on these key pieces of legislation from the Obama administration. The only exception is Washington’s Cantwell, who proudly proclaims her endorsement of Obamacare. The others, though, make statements that they are deeply committed to health care reform but fail to mention their role in the passage of the legislation.

In examining the web sites of the senators, I found a total disconnect between these politicians and the president who represents the head of their party. There is no link to the Obama re-election web site, no photos with the president, and absolutely no mention of President Obama in print. It’s as if he doesn’t exist.

These senators are perfectly cognizant of the results of the 2010 mid-term elections and are afraid of a repeat. It should therefore come as no small surprise that they distance themselves from the one person representing their biggest political liability, namely, the president. Aside from a couple of races, polls have shown that Republican nominees have made great in-roads in challenging these incumbents. It is not only feasible the GOP will take back the Senate; it is likely. It all depends on whether American voters will remember how these Senators voted. Most will not. This article, therefore, is designed to remind them.

If you believe Obamacare and the stimulus packages are detrimental to the country and should never be repeated, then these people are part of the problem, certainly not part of the solution.

Keep the Faith!

Note: All trademarks both marked and unmarked belong to their respective companies.

mbatim The Real Prize: The SenateTim Bryce is a writer and the Managing Director of M&JB Investment Company (M&JB) of Palm Harbor, Florida and has over 30 years of experience in the management consulting field. He can be reached at timb001@phmainstreet.com

For Tim’s columns, see:
timbryce.com

Like the article? TELL A FRIEND.

Copyright © 2012 by Tim Bryce. All rights reserved.

Photo credit: CTPEKO3A (Creative Commons)

 

An Open Letter To Obama’s IRS

Build It IRS Will Come SC An Open Letter To Obamas IRS

During the recent Republican Presidential nomination race, focus on the 63,000-page tax code and its effect on American families became a hot-button issue. Herman Cain made it a cornerstone of his candidacy, releasing his 9-9-9 Plan for revising the tax structure in America; the eventual introduction of the “Fair Tax” (a ‘National Sales Tax’ based on consumption rather than income); and the eventual elimination of income/payroll taxes, the IRS, and the 16th Amendment (which in reality was NEVER legally ratified as required by the Constitution. But more on that in a minute…).

There was a desperate cry from Democrats claiming the Fair Tax would be discriminatory towards the 47 percent of Americans who pay NO TAXES and the estimated 12 million illegals who pay none as well. But wouldn’t this accomplish Barack Obama’s campaign mantra that “everyone” should pay their fair share? Of course it would… and that in and of itself is the reason Obama is adamantly opposed to it. It cuts right into his base of non-taxpaying constituents.

But what about the 53 percent of us who DO pay taxes and carry the burden for the generational welfare of families and illegal residents? What do we get for our money? And is it truly fair that we carry the entire burden while being asked to pay “a little bit MORE”?

I have decided that I am tired of wasting what little money I have to pay for individuals and families to sit on the sofa and do NOTHING all day except learn new ways to scam the system. Additionally, my frustration encompasses the manner in which my taxes are being squandered, through programs I am vehemently opposed to that have no substantial benefit to Americans as a whole. For example-$600 million to the Muslim Brotherhood in Egypt, $300 million to Pakistan (a country who hid and protected America’s number one enemy for some 5 years), $535 million to a bankrupt solar energy company, and $1.5 TRILLION to a stimulus program that has created NOTHING more than profits to political cronies and tax refunds paid to illegals and their families who don’t even LIVE in the United States anymore, all the while cutting more and more benefits and pay for our active-duty military and veterans. Not to mention the $20+ BILLION for congressional pork-barrel projects in home districts used to buy votes for incumbent Congressmen and Senators, who live a lavish, career lifestyle on the taxpayer dime.

For these and other reasons, I made a conscious decision to STOP paying federal income taxes until an equitable, fair, and logical solution can be established that eliminates the fraud, waste, and abuse so rampant within the IRS and the federal government. I am fully aware of the legal consequences this action may bring, but they ones I am willing to accept head-on. I decided to inform IRS Commissioner Doug Shulman of my decision and await his response, which most likely will come as my front door is being kicked in by fully-armed, paramilitary IRS Agents. But I figured it was only fair to outline my reasons and wrote Doug a letter…

 

Commissioner Douglas H. Shulman
Internal Revenue Service
10th St & Pennsylvania Ave, NW
Washington, DC 20004

August 10, 2012

Dear Douglas,

It is with much regret that I must inform you that I no longer feel it necessary to pay income taxes under the current system of government. This has been coming for some time, and I thought I would explain some of the reasons for my decision based on the current political, social, and economic environment within the Obama administration and Congress, as well as the country as a whole.

First, let me say I deeply understand why individuals are required to pay a federal tax for living in America. It’s understood there is an elaborate infrastructure that must be financed. So much so that the United States federal government is the LARGEST employer in the world with our own Defense department employing 3.2 million people, nearly more than McDonalds and Wal-Mart combined. When you add in the remaining departments of the federal government, that number exceeds 20 million people. I mean, come on Douglas, that’s a lot of people for an organization that produces not a single, tangible, consumer good. And you and I both know as well, with the Supreme Court ruling in favor of ObamaCare, that your agency alone is poised to hire an ADDITIONAL 16,000 paramilitary IRS agents to make sure every American has health insurance (but NOT identification to VOTE).

As well, I understand the federal government is tasked with protecting our vital national interests and borders, but with the issuance of Barack Obama’s “Executive Policy” (which is just a ‘kinetic’ term for Executive Order) and amnesty for illegals, I think we’ve fallen gravely short in securing the borders and providing America with internal security. Wouldn’t you agree, Douglas? And then there’s the roads and bridges, postal service, FBI, CIA, NSA, DHS, TSA, DOJ, DHHS, VA, Executive, Legislative, and Judicial branches, et cetera. I get all that. Infrastructure. But how about we look at the FALLACIES within this taxpayer system and how blatantly corrupt, fraudulent, and wasteful it is. Let’s start with the IRS, shall we?

According to a report by Indianapolis television station WTHR-TV, millions of illegal aliens, many of whom do not even LIVE in the United States, are getting tax refunds totaling more than $4.2 BILLION from the IRS using Individual Tax Identification Numbers (ITIN). As you are aware, an ITIN is a nine-digit tax-processing number assigned by the IRS to individuals who are obligated to file a federal tax return but lack or are ineligible for a Social Security Number (SSN) typically required to file taxes, mainly illegal criminals whom the Obama administration refuses to deport from this country. But to see the full scope of this scam, please read the following from FrontPage Magazine, “Illegals Get Billions in Tax Refunds.

But what’s REALLY irritating, Douglas, are the number of people within your OWN parent organization, the Treasury Department (where Treasury Secretary Timothy Geithner had to pay up $42,000 in BACK TAXES before being confirmed as secretary). To date, 1,181 Treasury employees have been identified as owing $9.3 MILLION in delinquent taxes. That doesn’t look good from my perspective. But your department is not alone.

A report from YOUR AGENCY shows that in ‘Mr. Fair Share”s own administration, 36 members of his executive office staff owe the country $833,970 in back taxes. And that’s truly sad considering previous reports have shown how well-paid Obama’s White House staff is, with 457 aides pulling down more than $37 million last year. That’s up seven workers and nearly $4 million from the Bush administration’s last year. Nearly one-third of Obama’s aides make more than $100,000 with 21 being paid the top White House salary of $172,200 each. You would THINK they’d be civic-minded enough to pay “their” fair share. But then again, this IS the Obama administration we’re talking about! In addition to the IRS and the Obama administration, let’s take a peek at some other federal agencies with problem employees…

The IRS’ report also found that thousands of federal employees owe the country more than $3.4 billion in back taxes. The tax offenders include employees of the U.S. Senate who help write the laws imposed on everyone else. They owe $2.1 million. Workers in the House of Representatives owe $8.5 million, Department of Education employees owe $4.3 million, and over at Homeland Security, 4,697 workers owe about $37 million. Active duty military members owe more than $100 million.

As usual, the Postal Service, with more than 600,000 workers, has the most offenders (25,640) who also owe the most — almost $270 million. Veterans Affairs has 11,659 workers owing the IRS $151 million while the Energy Department that was so quick to dish out more than $500 million to the Solyndra folks has 322 employees owing $5 million. And lastly, the country’s chief law enforcement agency, the Department of Justice, has 2,069 employees who are nearly $17 million behind in taxes. Like Operation Fast and Furious, Attorney General Eric Holder has apparently missed them too.

As a career Marine, I was taught that leadership is by example. Now honestly, Doug, what kind of example is the federal government showing the American taxpayer? That it’s OK to just “forget” to pay your taxes? Or could it be that THEY, just as I do, believe the 16th Amendment was never LEGALLY ratified and is thus an ILLEGAL Amendment and requirement under the U. S Constitution? Let’s take a look at that side of the issue for a moment…

Author and Researcher Bill Benson, in “The Law That Never Was,” makes a convincing case that the 16th amendment was not legally ratified and that Secretary of State Philander Knox was not merely in error but committed fraud when he declared it ratified in February 1913. A review of the process in which many of the states purportedly ratified (or didn’t) shows that their ratifications were not legal and should not have been counted. We’re both aware that in order for the Constitution to be modified, an Amendment must receive ratification by three-fourths of the States, which at the time of the 16th Amendment would have required 36 out of the 48 states. Benson reveals the intricacies of how the ratification process never happened.

When Secretary Knox declared the 16th amendment ratified on February 25, 1913, he had received responses from 42 states and acknowledged that four of those states (Utah, Connecticut, Rhode Island, and New Hampshire) had rejected it, counting 38 states as having approved it. But did they? Let’s take a look…

  • In Kentucky, the legislature acted on the amendment without even having received it from the governor (the governor of each state was to transmit the proposed amendment to the state legislature). The version of the amendment that the Kentucky legislature made up and acted upon omitted the words “on income” from the text, so they weren’t even voting on an income tax. When they straightened that out (with the help of the governor), the Kentucky senate rejected the amendment; yet Philander Knox counted Kentucky as approving it!
  • In Oklahoma, the legislature changed the wording of the amendment so that its meaning was virtually the opposite of what was intended by Congress, and this was the version they sent back to Knox. Yet Knox counted Oklahoma as approving it, despite a memo from his chief legal counsel, Reuben Clark, that states were not allowed to change it in any way.

It should be noted, however, that attorneys who have studied the subject have agreed that Kentucky and Oklahoma should not have been counted as approvals by Knox, and, moreover, if any state could be shown to have violated its own state constitution or laws in its approval process, then that state’s approval would have to be thrown out. That gets us past the “presumptive conclusion” argument, which says that the actions of an executive official cannot be judged by a court and admits that Knox could be wrong. We’re down to the magical THIRTY SIX states approving the Amendment. But there’s more… always is, ya know. If only one more state could be shown to have NOT ratified the Amendment legally, it would have been rejected, but Philander Knox was not about to see that happen!

The state constitution of Tennessee prohibited the state legislature from acting on any proposed amendment to the U.S. Constitution sent by Congress until after the next election of state legislators. The intent, of course, is to give the proposed amendment a chance to become an issue in the state legislative elections so that the people can have a voice in determining the outcome. It also provides a cooling off period to reduce the tendency to approve an idea just because it happens to be the moment’s trend. You’ve probably already guessed that the Tennessee legislature did not hold off on voting for the amendment until after the next election, and you’d be right – they didn’t; hence, they acted upon it illegally before they were authorized to do so. They also violated their own state constitution by failing to read the resolution on three different days as prescribed by Article II, Section 18. These state constitutional violations make their approval of the amendment null and void. We’re down to 35 states, which in essence SHOULD mean the Amendment did NOT pass by the three-quarters needed. But let’s “spike the football” and destroy the Amendment even further.

Texas and Louisiana violated provisions in their state constitutions prohibiting the legislatures from empowering the federal government with any additional taxing authority. Now the number is down to 33.

Twelve other states, besides Tennessee, violated provisions in their constitutions requiring that a bill be read on three different days before voting on it. This is not a trivial requirement ~ it allows for a cooling off period. It enables members who may be absent one day to be present on another; it allows for a better familiarity with, and understanding of, the measure under consideration, since some members may not always read a bill or resolution before voting on it. (See, Douglas, things just never change. They don’t read them NOW either!). States violating this procedure were: Mississippi, Ohio, Arkansas, Minnesota, New Mexico, West Virginia, Indiana, Nevada, North Carolina, North Dakota, Colorado, and Illinois. Now the number is reduced to 21 states legally ratifying the amendment.

Further review would make the list dwindle down much more, but with the number down to 20, sixteen fewer than required, this is a suitable place to rest without getting into the matter of several states whose constitutions limited the taxing authority of their legislatures, which could not give to the federal government authority they did not have.

In closing, Douglas, I hope you see why I feel no obligation to continue sending money to Washington due to the massive amount of fraud, waste, abuse, and outright dereliction of the Constitutional mandate that Congress pass a BUDGET annually, something that has NOT occurred in Harry Reid’s Senate in over 3 years! This is border-line impeachable. And as I have said, leadership by example is what America needs and deserves. And until I begin to see this in all three branches of the federal government, I feel under no obligation to fund their extravagant, lavish lifestyles while nearly 20 percent of Americans remain unemployed and our national debt is at an all-time high. I realize you may say I shouldn’t then take advantage of what America offers in terms of, say, our highway system ~ don’t worry. You didn’t build that… someone else built that for you. Like ME, and 120 million other Americans who slave on a daily basis to pay for our nation’s infrastructure. It’s paid for. Now it’s time for Washington to pay us back through fiscal responsibility and openness. Until then, I bid you a good day, Sir.

Sincerely,

Robert P. Dean
U.S.M.C.
American Taxpayer

(Disclaimer: Statistical information contained in this article are from U. S. government sources and fully available to the public.)

Photo credit: terrellaftermath

Senate Democrats Build Fall Campaign Cushion

20 Dollar Bills SC Senate Democrats Build Fall Campaign Cushion

WASHINGTON (AP) — Democratic candidates in several pivotal Senate races are raising more money than their GOP counterparts, but they’ll need the cushion to counter spending by independent conservative groups determined to win a Republican majority.

Democrats outraised Republicans in seven of 10 key races in the April-June period, according to quarterly reports that had to be filed by midnight Sunday with the Federal Election Commission.

In Hawaii, New Mexico and North Dakota, GOP candidates had a fundraising edge.

Read More at OfficialWire. By Kevin Freking.

Restrictions On International Travel Without Due Process

passport SC 238x300 Restrictions on International Travel without Due Process

A few weeks ago the United States Senate passed a piece of legislation called the “Moving Ahead for Progress in the 21st Century Act”, it is essentially a transportation bill focused on roads and bridges. Title III of the act is a revenue provision concerning gas guzzling, cars leaking underground storage tanks, import duties and a number of other fees, taxes and other revenue enhancements.

Section 40304 is a rather bizarre provision that certainly doesn’t seem to fit in a transportation bill and is buried so deep that few senators have probably even read that far into the bill which is 1676 pages. Section 40304 is titled “Revocation or denial of passport in case at certain tax delinquencies”. The provision specifically amends the 1926 Passport Act to permit the IRS to simply ‘Certify” to the Secretary of State that an individual “has a seriously delinquent tax debt in an amount in excess of $50,000.00. The law does not require that any hearing be held or require administrative due process of any kind. In fact the IRS must only give what is called a “Notice of levy” to the tax payer. This is nothing more than the IRS’ own determination that the taxpayer owes $50,000.00 and while $50,000.00 sounds like a lot of money, it can easily be the case that much smaller amounts with penalties and interest can cross the $50,000.00 threshold.

While most folks would consider this a heavy handed tool that denies taxpayers due diligence, it brings up an even more basic question: Do you have the “right” to travel? Most people would assume the answer to this question is “yes”, but actually no such right can be found in the Constitution. While the Founding Fathers may have deemed the right to travel so basic and fundamental that they didn’t feel the need to have a separate clause defining the right, The Government beginning with the Passport Act of 1926 considers travel a “privilege” not a right.

If you want a real eye opener on this topic, pull out your own passport (authorized by the Passport Act of 1926) and turn to the fine print at the back. Remember you can’t travel outside the US without a passport nor can you legally enter the US without a passport.

So, what is in the Passport fine print? Under the section titled “Important Things to remember about your Passport “It states in number two the following:

Read More at hemispherespublishing.com.  By Joel Nagel.

House Passes CISPA, Threatens The Internet

John Boehner SC 300x199 House Passes CISPA, Threatens The Internet

The House’s solid bipartisan vote for a cybersecurity bill sends a message to the Senate: Now it’s your turn to act.

Ignoring a White House veto threat, the House approved the Cyber Intelligence Sharing and Protection Act, which would encourage companies and the federal government to share information collected on the Internet to help prevent electronic attacks from cybercriminals, foreign governments and terrorists.

The vote Thursday was 248-168, with 42 Democrats joining 206 Republicans in backing the measure.

Congressional leaders are determined to get a cybersecurity bill completed this election year but that may be difficult. The Obama administration and several leading Senate Democrats and Republicans want a bill that would give the Homeland Security Department the primary role in overseeing domestic cybersecurity and the authority to set security standards. The House bill would impose no new regulations on businesses, an imperative for Republicans.

In the coming weeks, the Senate will try to proceed on its bill by Sens. Joe Lieberman, I-Conn., and Susan Collins, R-Maine, who have said the House bill is inadequate in protecting against cyberattacks. Senior Senate Republicans, such as Sen. John McCain of Arizona, argue that Homeland Security is ill-equipped to determine how best to secure the nation’s essential infrastructure and has introduced his own bill.

Read More at OfficialWire. By Donna Cassata, AP.

Will The Senate Nullify Union Rules?

us capitol building SC 300x199 Will The Senate Nullify Union Rules?

Senate Republicans are trying an unusual tactic to nullify new labor regulations that would speed up the time frame for unions to hold workplace elections.

The Senate will vote Tuesday on a rarely invoked measure, known as a resolution of disapproval, to overturn rules approved last year by the National Labor Relations Board.

Though the measure has little chance of passage — it also faces a White House veto threat — the vote forces Democrats in tough elections to take a stand on rules that have won praise from unions and sharp rebukes from business groups.

The rules simplify procedures and reduce legal delays that can hold up union elections after employees at a work site gather enough signatures to hold a unionization vote. They are set to take effect on April 30.

Unions call the changes a modest fix that would limit corporate stalling tactics, where litigation can delay elections while workers are can be subject to harassment, threats and even illegal firing.

Read More at OfficialWire. By Sam Hananel, AP.

Democrats On Track To Lose Senate Because Of Obama

Harry Reid 4 SC Democrats On Track To Lose Senate Because Of Obama

He’s short on popular support, ideas, and money and now Democrats across America are stuck with him at the top of their ticket. Everywhere we hear people, especially Democrats, sheepishly admit they made a mistake when they voted for Barack Obama. Yet we never seem to hear anyone say, “I voted Republican last time but if I had to do it again I’d vote for Obama.”

To produce a survey showing Obama at even a 50% approval rating, liberal pollsters have had to resort to double counting Democrats.

Nevertheless there is still more bad news for Barack Obama, which has so far been largely ignored: Because of him his Party is on track to lose control of the Senate.

Only very popular Presidents like Ronald Reagan could survive the kind of thrashing Senate Democrats are on their way to getting, and Obama is no Ronald Reagan.

By his latest surveys Rasmussen has Republicans headed toward taking current Democrat Senate seats in Florida, Missouri, Nebraska, Montana, North Dakota, Ohio, and Wisconsin. With those victories, they will have 54 Senate seats, but the victories might not stop there. The races in Virginia New Mexico and Michigan could easily go GOP when the Democrat blood stops flowing on Election Night.

While the Democrats have a chance of taking the retiring Olympia Snowe’s seat in Maine, with Scott Brown’s current lead in Massachusetts, Maine might be the Democrats only Senate upset victory this cycle.

The Republican presidential primary surveys and liberal push polls are dominating the news so it is easier for the media to keep up their “whistling past the graveyard” management of the news. They can avoid talking about the Senate races, but that won’t change the truth.

In the absence of a sudden turn around it’s very possible that given the big leads Republicans have in Florida, Missouri and Wisconsin GOP efforts can be redirected to strengthen and produce leads in other states as well.

When the hopes of neither victory at the Presidential level nor Senate level fade, already low Democrat rank and file enthusiasm to actually go out and vote is likely to fade. This will endanger down ballot Democrats chances of victory in a trickle down of failure. Clearly it’s – so far so good.

To contact your Congressional Representative use this link: http://www.contactingthecongress.org

To read more about this story use this link:

http://www.dickmorris.com/senate-democrats-in-mortal-danger

Photo Credit: Talk Radio News Service Creative Commons

Senate Democrats Moves Toward Vote On Small Business Bill

Harry Reid Senate Democrats Moves Toward Vote On Small Business Bill

Popular legislation to help small businesses raise capital survived a Senate Democratic challenge Tuesday and appeared headed for Senate passage later in the week.

The legislation, a package of measures to ease federal regulations that can hamper small businesses and startups seeking investors, sailed through the House two weeks ago on a 390-23 vote and has the backing of President Barack Obama.

But it met resistance from some Senate Democrats, who said the legislation lacked adequate investor protections and could lead to the kinds of abuses and fraud prevalent during the dot.com and mortgage industry meltdowns. Their attempt to rewrite the bill to add more federal oversight and investor protections was defeated 55-44, with almost every Republicans voting against it. Sixty votes were needed to advance the Democratic alternative.

The Senate is now likely to pass the House bill by week’s end, although one more sticking point remains before it can go to the White House for the president’s signature: The Senate was also voting Tuesday to link the small business bill to reauthorization of the Export-Import Bank, an agency that helps finance sales of U.S. products overseas.

Read more at Official Wire. By Jim Abrams, AP.