State Senate of Maine Passes SP 465 by Acclamation, Telling Congress "To Reinstitute The Glass Steagall Act"
April 4, 2013 • 10:37PM

Today in Maine, the state's Senate passed, by acclamation, Senate Paper 465—"Joint Resolution Memorializing the United States Congress to Reinstitute the Glass Steagall Act."

Going into the session, 12 out of the 35 members of the Senate were officially co-sponsors. (Of the 12, 9 are Democrats; 3 Republicans). The concurrent Resolution—now termed LR (Legislative Request) 1983—goes next to the Maine House of Representatives, which could take it up for a vote as early as on Tuesday, April 9. The body went out of session today before voting on it. The Majority Leader in the House, which has 151 members, is a co-sponsor of the Glass-Steagall Resolution, one of a bi-partisan group of 18 cosponsors.

Today's Senate approval is reported on the official Maine legislative website: "On motion by Senator Patrick of Oxford [Senate Paper 465 was] READ and ADOPTED. Ordered sent down forthwith for concurrence [by the Maine House of Representatives]." (See www.mainelegislature.org) The Senate Resolution recognizes, in particular, that, "the Glass-Steagall Act has widespread national support from organizations such as the American Federation of Labor and Congress of Industrial Organizations, the American Federation of Teachers, and the International Association of Machinists, as well as from prominent economic and business leaders, many of the major and respected national newspapers and many others..."