The industry has donated generously to the campaigns of all twelve Republican members of the Senate Banking Committee.
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Had [the Senate Banking Committee] met to vote as scheduled, her nomination would likely have survived a party-line tie, which under the Senate’s current rules would have advanced it to the Senate floor for the full body’s consideration. Instead, after the twelve Republicans on the committee [including PA’s Pat Toomey] failed to show up, the meeting adjourned, and the Senate soon after went into recess. This left not just Bloom Raskin but all five of Biden’s top nominees for the Fed in limbo, including Powell.