U.S. House Republicans advanced legislation to undo Congress'sresponse to the 2008 financial crisis after Democrats forced quickaction on the measure that they decried as toxic.

Financial Services Committee Chairman Jeb Hensarling's bill,which he said will spur economic growth and end bank bailouts, willmove to the House floor after a 30-26 vote in an acrimoniouscommittee markup on Tuesday. The Financial Choice Act is theTexas Republican's plan for replacing the six-year-old Dodd-FrankAct.

“This bill is so bad that it simply cannot be fixed,”Representative Maxine Waters, the panel's ranking Democrat, said ina statement before the vote. “It's clear that this is a rushed,partisan messaging tool, though why anyone would want to pushlegislation to deregulate Wall Street at a time like this is beyondme.”