TAG was created during the financial crisis, and provides for government guarantees for non-interest-bearing bank accounts used by small companies and municipalities. Companies and local governments holding large amounts of money for a brief period of time use the transaction accounts.
“This program provides certainty to businesses at uncertain times,” Sen. Tim JohnsonTim JohnsonFormer GOP senator endorses Clinton after Orlando shooting Housing groups argue Freddie Mac's loss should spur finance reform On Wall Street, Dem shake-up puts party at crossroads MORE (D-S.D.) said ahead of the vote Tuesday. “With concerns about the fiscal cliff and the continuing instability in European markets, I believe this is still needed.”
Johnson said the bill has a cost recovery provision, meaning taxpayers wouldn’t be on the hook. He said the bill “is not and never will be a bailout.”
The Senate voted 76-20 to end debate on a motion to proceed to consideration of the bill. The motion to proceed was then approved immediately by unanimous consent. The Senate is expected to continue work on the bill this week.
Republican Sens. Tom CoburnTom CoburnRyan calls out GOP in anti-poverty fight The Trail 2016: Words matter Ex-Sen. Coburn: I won’t challenge Trump, I’ll vote for him MORE (Okla.), Bob CorkerBob CorkerBolton would consider serving as Trump's secretary of State Trump struggles to land punches on Dems over ISIS GOP senator: Trump calling Obama ISIS founder 'went far too far' MORE (Tenn.), Mike CrapoMike CrapoGOP warming up to Cuba travel Ann Coulter: VP pick is Trump's first mistake Overnight Finance: Freedom Caucus moves to impeach IRS chief | Calls for US-UK trade talks | Clinton ally offers trade for Trump tax returns MORE (Idaho), Jim DeMint (S.C.), Dean HellerDean HellerMcAuliffe: I wouldn't want a 'caretaker' in Kaine's Senate seat Senators offer bill removing hurdles to offering stock options Six senators call on housing regulator to let Congress finish housing finance reform MORE (Nev.), Ron JohnsonRon JohnsonDem Senate candidate: Foundation should ‘probably’ shutter if Clinton wins Senate Dems' campaign arm knocks GOP for Trump support GOP chairmen subpoena tech firms tied to Clinton's email server MORE (Wis.), James Risch (Idaho), Marco RubioMarco RubioTrump gets 're-action' figure treatment Murphy wins Fla. Senate primary, setting up showdown with Rubio Rubio wins Senate primary MORE (Fla.), Rand PaulRand PaulTrump, Clinton boost Snapchat spending Clinton enjoying edge over Trump in Silicon Valley Trump gets little backing from Silicon Valley MORE (Ky.), Kelly AyotteKelly AyotteSanders to campaign for Clinton on Labor Day Republicans slam Biden remarks on closing Gitmo GOP: Ship harassment shows US-Iran relations aren't warming MORE (N.H.), Pat RobertsPat RobertsTrump's new agriculture brain trust includes Rick Perry, Jim Gilmore Newer waters, same river: The Louisiana floods, and a state in turmoil Meet the rising GOP star who already enrages the left MORE (Kan.), Jeff SessionsJeff SessionsSessions: 'I can be supportive' of Trump's immigration plans Hard-liners shrug off Trump’s softer tone on immigration Trump vows to protect jobs, wages for Hispanic voters MORE (Ala.), John ThuneJohn ThuneApple, Google enlisted for FCC robocall effort Fidelity denies lobbying for student loan tax break Republicans see fresh chance to overhaul telecom law MORE (S.D.), John BarrassoJohn BarrassoGOP blasts EPA on mine spill anniversary Investigators open criminal probe into EPA mine waste spill McAuliffe: I wouldn't want a 'caretaker' in Kaine's Senate seat MORE (Wyo.) and Pat Toomey (Pa.) were among those who voted against the motion.