House revisits bailout plan

WASHINGTON, Oct. 3 (UPI) --

Supporters of an emergency economic rescue plan converged on Capitol Hill to try to sway U.S. House members to support the $700 billion bailout.

The fate of the stabilization plan for U.S. financial markets was uncertain, however, as the House prepared to vote on the measure, The Washington Post reported Friday.

On Monday, the House voted down a bailout package 228-205. A modified version breezed through the Senate 74-25 Wednesday.

Lobbyists representing corporate executives, small-business owners, farmers and seniors met with lawmakers pushing for the Senate-modified plan that includes tax incentives and other measures to garner support. President George Bush and members of a White House team also telephoned about three-dozen representatives to urge them to vote for the bill.

Bush, after meeting with representatives of American businesses Thursday, urged House members to "get this bill passed," saying the financial crisis "has gone way beyond New York and Wall Street."

As several lawmakers indicated they would switch their "no" votes to "yes," House Speaker Nancy Pelosi, D-Calif., said she would not permit a repeat of Monday's events, preferring to cancel a House vote rather than watch the measure fail again.

"We're not going to take a bill to the floor that doesn't have the votes," Pelosi told the Post. "I'm optimistic that we will take a bill to the floor."


Copyright 2008 by United Press International
All Rights Reserved.

Times of the Internet, now in Spanish


Published: Friday 03rd of October 2008 07:40:27 AM
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