House Democratic leader Nancy Pelosi said Thursday she is “enormously disappointed” with the White House over President Obama’s support for the massive spending bill under consideration by Congress.
The California Democrat railed against a rider in the legislation that repeals certain Wall Street restrictions inside the Dodd-Frank financial regulatory overhaul.
“I’m enormously disappointed that the White House feels that the only way they can get a bill is to go along with this,” Pelosi said on the floor of the House on Thursday afternoon.
Pelosi also referred to the bill as “a ransom.”
“This is blackmail,” she said. “You won’t get a bill unless Wall Street gets its taxpayer coverage.”
The Obama administration released a statement Thursday saying the president supports passage of the $1 trillion spending bill, though it acknowledged Obama is “opposed to the inclusion of a rider that would amend the Dodd-Frank Wall Street Reform and Consumer Protection Act and weaken a critical component of financial system reform aimed at reducing taxpayer risk.”
Meanwhile, House Speaker John Boehner has predicted the bill will pass with bi-partisan support, despite opposition from some conservatives and liberals.