WASHINGTON, D.C. – Following the passage of Financial Reform Bill (S. 3217) last week in the Senate, both the Senate and House bills will move to a conference committee to resolve differences in the legislation with hopes to have a final version ready for the President to sign before the July 4 holiday, a National Marine Manufacturers Association spokesperson recently reported.
A motion to instruct the Brownback amendment passed yesterday, a non-binding advisory procedure that indicates support for the measure and encourages the Members of the Conference Committee to include the amendment language in the final version of the bill. Although the motion to instruct is encouraging, boat and RV dealers were not included in the House bill, making it unclear at this point as to whether they ultimately will be included in the final version to be sent to the President, NMMA suggested.
“The Brownback Motion to Instruct relating to dealer exemption was agreed to by the full Senate on a vote of 60-30,” stated NMMA. “We view this as a very significant margin representing substantial bipartisan support. However, there is still a long path ahead before marine dealers obtain an exemption from this new bureau. A motion to instruct is non-binding and debate will continue in conference committee. NMMA will continue to reach out to key Members of Congress in the House and Senate to ensure that we are represented in conference negotiations as the process continues.”
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