Clarity Act vote fails 49-50, clouding prospects for year-end passage

  • The Senate rejected a procedural vote to begin consideration of the Clarity Act.
  • 49-50 was the final vote, below the 60 votes required for passage.
  • JPMorgan analysts said year-end enactment remains possible but the available time is extremely limited.

The Clarity Act faces weaker prospects for enactment this year after a Senate procedural vote failed 49-50, short of the 60 votes required to begin consideration. JPMorgan analysts including Kenneth Worthington said on the 16th that the possibility of passage has not disappeared entirely, but the time remaining is extremely limited. Interest in the SEC (U.S. securities regulator) and CFTC (U.S. derivatives regulator) is expected to rise.

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