Democrats will try to take a big step forward today on Wall Street Reform legislation in the Senate, as they force a test vote on whether to even begin debate on the matter.  60 votes are needed, which means at least one Republican will have to switch sides.

"The bottom line is that America expects us to move forward," said Sen. Dick Durbin (D-IL), one of many Democrats all but publicly daring Republicans to filibuster this measure.

Most Republicans believe this bill will pass sooner or later.  They certainly have the votes to sidetrack the bill for now, if all 41 GOP Senators stick together on the Motion to Proceed to the bill.

Democrats tried on Sunday to bring over a GOP vote or two by adding into the bill new restrictions on derivatives that were approved last week by the Senate Agriculture Committee, as Democratic leaders say it's time for action, not more negotiation.

"It will enforce the strongest protections ever against Wall Street greed," Sen. Harry Reid (D-NV) said of this reform bill.

But Republicans do have a little leverage right now, and that may be one reason that no GOP Senator switches sides today, because it will insure that Democrats have to give in on at least a few more things.

We'll see what happens at 5pm EDT when the roll is called.

As for one of the biggest arguments in this whole debate, neither side seems to be backing down over whether this bill does or does not open Uncle Sam to more bailouts of big financial firms.

"Prove it to my constituents" read the news release from Senate GOP Leader Mitch McConnell, who has gotten under the skin of Reid and other Democrats by constantly charging that this reform package will allow bailouts to go on.

"If a future administration thinks there's a crisis that requires using taxpayer funds, then they should have to get permission from the taxpayers first," McConnell said on the Senate floor last week.

"It isn't enough for someone in the administration to say it's so. They need to come to Congress before they write the check. If this bill isn't like the first bailout, prove it," the GOP Leader added.

Republicans say they do want to make regulatory changes so that there is not a repeat of the 2008 Wall Street Collapse.  But they say plans from Democrats are too familiar in that they rely mainly on big government solutions, and ignore certain issues like troubles at Fannie Mae and Freddie Mac.

"The current proposal ignores Fannie and Freddie, which were significant contributors to the crisis," said Sen. Kit Bond (R-MO).  "That is a big mistake."

When the Senate does get into amendments, look for sparks to fly when Republicans try to bring up anything on Fannie & Freddie.

But as of now, the debate may not begin right away.