Congress is under increasing pressure to pass a banking bill this year.
As a result, the banking bill, the Administration's biggest piece of financial legislation, faces a new, last-minute threat.
The banking bill was approved by the Senate on a 68-to-15 vote.
The Administration has reached a compromise with Congress on the latest banking bill.
Behind the scenes, there were successful negotiations on both the budget deficit and a major banking bill.
But when the Senate rejected his banking bill, he called a double dissolution election.
It would be hard to think of a worse atmosphere to bring up a banking bill.
The House had already approved the interstate banking bill.
It is still too soon to handicap the prospects for any banking bill to pass the House next month.
The banking bill will not end the Congressional misery.