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Republicans defy test vote on banks

Washington (CNN) — Senate Majority leader Harry Reid has scheduled a late afternoon vote Monday to move ahead with a Senate financial reform bill, but Republicans warn they are not prepared to launch debate on the measure.

Leading lawmakers from both parties making the rounds of Sunday political talk shows said a deal is close on a reform bill, but top-ranking Republican Sen. Mitch McConnell of Kentucky was among those saying he didn’t expect debate to proceed on Monday.

“We don’t have a bipartisan compromise yet,” McConnell said on “FOX News Sunday.” “But I think there’s a good chance that we’re going to get it.”

Democratic Sen. Christopher Dodd of Connecticut and Republican Sen. Richard Shelby of Alabama told NBC’s “Meet the Press” that they would continue working during the day Sunday to reach a deal on financial reform, one of President Obama’s top legislative priorities.

But Shelby said, “If nothing happens between now and (Monday), the Democrats will not get” any Republican support to open debate on the measure.

Republicans have enough seats in the Senate to block the start of debate; without at least one Republican vote, debate won’t be able to begin.

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