While the recent revisions to the tax code were done along party lines, the newly proposed updates to Dodd-Frank have the backing of a bipartisan group of legislators; the bill is looking to target banks in the $50bn to $250bn range who many feel have been disproportionately effected by the 2010 Dodd-Frank law; changing the definition of the banks from systemically important financial institutions or SIFI’s will free up the banks from certain requirements; while their is optimism for a deal that crosses party lines, Congress has a ways to go as they look to get this done later in the month. Source.
