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They also agreed to increase premium rates paid by commercial banks to the Federal Deposit Insurance Corp. to insure bank deposits. The premiums would increase from 1.15 percent of insured deposits to 1.35 percent by September 2020. The additional premium would be paid by banks with assets greater than $10 billion.

The bank fee was proposed by Rep. Barney Frank, the chairman of the House Financial Services Committee, as a way to meet House rules that require spending cuts or revenue increases to pay for the costs of legislation. Neither the House nor the Senate had voted for the bank assessment.

By reluctantly ending TARP early, Democrats lost any hope of using some of the money toward unemployment extensions and other job related spending. It also prevented any savings realized by ending the program from being used toward lowering the deficit.

Republicans complained the solution was budget gimmickry and that it went against Congress’ desire to use TARP repayments to reduce the debt.

“I’m getting caught in the middle of an intra-Republican debate here,” Frank said after hearing Republicans on the House-Senate conference committee angrily deride the TARP-FDIC plan.

Besides the three Republicans, Democrats also were working to win the support of Sen. Maria Cantwell, Washington Democrat, who voted against the Senate version last month. She complained the bill was not tough enough on banks.

If unable to secure 60 votes, Democrats would have to wait for West Virginia’s Democratic governor, Joe Manchin, to appoint Byrd’s successor. Manchin has said he has no timetable for his decision.