WASHINGTON --- Democrats sent a massive Wall Street regulation bill to the full Senate on a party line vote Monday after a temporary retreat by Republicans that still left the bill's chances for bipartisan passage in doubt.

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In a surprise move, the Senate Banking Committee met briefly to approve the bill 13-10, but not before Republicans jettisoned more than 300 amendments they had planned that could have put their imprint on the bill. Senators had been expecting a long week of votes and debate.

Despite a conciliatory tone struck by the committee's Democratic and Republican leaders, the development did nothing to mend the partisan divide over the legislation and adds more uncertainty to Congress' ability to pass a rewrite of financial regulations this year.

The Senate would not take up the bill until April at the earliest.

In their opening remarks before the committee vote Monday, committee chairman Christopher Dodd, D-Conn., and the committee's top Republican, Sen. Richard Shelby of Alabama, sounded optimistic about the bill's prospects.

"We will have reform this year," Dodd said.

"I just don't believe we're quite there yet," Shelby cautioned.

Dodd unveiled his bill last week. The legislation would give the government powers to split up firms considered a threat to the economy, put together a council of regulators to watch for risks in the financial system and create an independent consumer watchdog.

Shelby said seeking changes in committee would have been pointless. He said he hoped he and Dodd would find agreement before the bill reaches the Senate floor.

Dodd did accept 25 Democratic amendments, including one sought by Federal Deposit Insurance Corp. Chairwoman Sheila Bair. She said it would prevent unintended bailouts of large financial institutions.

Democrats and Republicans are mostly split over the need for an independent consumer entity. But other issues also divide the parties, including how to regulate trading instruments and what firms should be exempt from new rules.

Industry lobbyists said the decision to move swiftly through committee made it much more difficult to predict what the Senate would ultimately do with the legislation. Various outcomes were likely:

- The legislation would go to the floor but without the support of at least one Republican, it would be blocked by procedural delays.

- The bill would pass out of committee on a party-line vote, but Shelby would strike a bargain and pass a bill with bipartisan support.

- Democrats would seek to pick off one or two Republicans to support the bill and break a filibuster.