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In a memo circulated by the Senate Banking Committee Wednesday, staff listed several options for either increasing revenues or cutting spending.

GOP skeptical Banking panel can defund CFPB

Republicans on the Senate Banking Committee walked out of a reconciliation meeting led by Chair Tim Scott (R-S.C.) expressing skepticism that key provisions of the panel’s savings strategy will survive parliamentary scrutiny.

Multiple Senate Republicans on the committee told reporters they were concerned about how the “Byrd Bath” would treat an effort to completely defund the Consumer Financial Protection Bureau and other attempts at cost cutting.

“I’m not a parliamentarian," Sen. Thom Tillis (R-N.C.) said. “But I think that would probably be challenging.”

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