Harry Reid Blinks, Will Remove IMF Language From Ukraine Bill

I blame the Koch brothers.

Senate Democrats on Tuesday dropped their demands that International Monetary Fund reforms be included in a Ukraine aid package.

Senate Majority Leader Harry Reid (D-Nev.) announced the change, saying he wanted to ensure that Congress could pass the package quickly.

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“As much as I think a majority of the Senate would like to have gotten that done with IMF in it, it was headed to nowhere in the House,” Reid said.

Reid acknowledged the White House was not happy with the decision.

“Of course, they’re disappointed. We have to get IMF reformed but we can’t hold up the other [parts of the legislation],” he said.

In case you missed it earlier, I blogged about why the IMF language was a deal breaker for Senate conservatives (well, most of them anyway) and House Republicans.

The highlights:

-The Obama administration negotiated changes to the IMF management rules would have weakened US control, while empowering developing countries.

-Potentially exposed the US to greater exposure when new bailouts are needed.

-Taken money from the US Army and Navy budgets to pay for new IMF spending.

Now, all of these things may still happen but the House GOP is trying to get something in return, a delay in Obama's anti-free speech IRS regulations.

I hope the Republicans who vote with Reid yesterday are feeling proud today.

posted by DrewM. at 04:24 PM

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