During most of Chen's second term, Kuomintang and PFP together hold a pan-Blue majority in the legislature. Among the many items that have made little progress due to the political stalemate are a stalled arms procurement bill, which would advance defense capabilities of the Republic of China through the purchase of weaponry, such as sub-hunting P-3 Orions, from the US government, and banking reform legislation, which would help in the consolidation of the many banks in the Republic of China, none of which hold even 10% shares of the local market. It is important to note that the president of the Republic of China, unlike the president of the United States, does not wield veto power, providing him with little to no leverage in negotiating with an opposition legislature, regardless of how slim the majority.