The Senate Banking Committee easily approved a new bipartisan sanctions bill Thursday on Iran, raising the likelihood that new financial penalties on Iran will be passed into law before a final June diplomatic deadline for an agreement on Tehran’s nuclear program. But politics will be a big factor in the fate of the legislation. Majority Leader Mitch McConnell (R., Ky.) could send the bill to the floor at any time now that it has passed out of committee. Earlier this week, Democratic lawmakers including the bill’s co-author, Sen. Robert Menendez (D., N.J), pledged not to support a vote on the bill until after a March deadline set by negotiators to reach a political framework. A final agreement is due by the end of June. As a result of that Democratic pledge, Mr. McConnell is considered by many to be unlikely to call up the bill for a floor vote […]