Senate Majority Leader Harry Reid (D-Nev.) announced the chamber would hold a test vote Monday on Banking, Housing and Urban Affairs Chairman Chris Dodd's (D-Conn.) financial regulatory reform bill, threatening Republicans to vote against the sweeping measure that has picked up momentum in recent days.
"This is very simple. If they're ready to move to the bill, that's what we're going to do," Reid told reporters Thursday. Otherwise, Reid said, the Senate would hold a Monday cloture vote to try to move to the measure.
"There's been plenty of time. We don't need three more months," Sen. Charles Schumer (D-N.Y.) said, joining the chorus of Democratic leaders who vowed to press ahead with or without Republican support.
Reid will have to pick off at least one Republican to secure the 60 votes needed to move the bill forward, and it is not clear whether any GOP Member will break ranks to proceed.