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US House Financial Services Chair Says CLARITY Act Could Pass Before November Midterms
Summary
- French Hill, chairman of the US House Financial Services Committee, said the CLARITY Act could pass before the midterm elections.
- He said the CLARITY Act is awaiting a Senate procedural vote on Sept. 15 and that 60 votes are needed to end a filibuster.
- Hill said 78 Democratic lawmakers backed the CLARITY Act in the House last year and urged both parties in the Senate to work together to pass the bill.
Forecast Trend Report by Period
The CLARITY Act could pass Congress before the November midterm elections, according to French Hill, chairman of the US House Financial Services Committee.
CoinGape reported on Sept. 5 that Hill told Fox Business in a recent interview that passing the CLARITY Act is crucial, echoing the view of Securities and Exchange Commission Chairman Paul Atkins. He added that the bill could be approved before the midterm elections.
The CLARITY Act is awaiting a Senate procedural vote scheduled for Sept. 15. Before Congress recessed last month, Senate Majority Leader John Thune filed a cloture motion on the bill.
Republicans hold 53 seats in the Senate, and 60 votes are needed to end a filibuster and move the legislation forward, making it difficult for the party to advance the measure on its own.
Hill also called for Democratic support. He noted that 78 Democratic lawmakers voted for the CLARITY Act when it passed the House last year and said it is now time for the Senate to pass the bill as well.
He added that senators from both parties have spent the past year working continuously to find common ground.
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