Final Piece Fits: House GOP Agrees to Bailout
The House came in at 1 p.m. today for 25 minutes of what are known as one-minute speeches. The lawmakers -- all of them from the more conservative and more liberal wings of their respective parites -- denounced the deal one by one. The chamber adjourned, and is scheduled to re-open around 4 p.m. for votes on some unrelated issues.
After the 4 p.m. votes, the House Republicans and Democrats are likely to assemble in separate full caucus meetings to review the legislation and fight and shout and scream and hopefully come to agreement on it.
As of now, Rep. John Boehner (R-Ohio) has not officially endorsed the bailout bill, but -- very significantly -- his press office is issuing talking points and arguments in favor of it, explaining all the good things in the bill. This signals he may be on board, and with Rep. Roy Blunt (R-Mo.) there, they could have the full force of House GOP leadership behind this.
Barring some calamity, that puts the $700 billion Wall Street bailout bill on path for passage in the House on Monday. House conservatives are having their own separate meeting following the full GOP conference meeting today. Some of them are already opposed to the bill, issuing "Dear Colleagues" letters against it.
House Democrats believe they'll lose a bloc of their most liberal members. Rep. Dennis Kucinich (D-Ohio) was the third person to speak during the one-minute speeches and wasn't in favor of bailing out Wall Street.
Senate Republicans held a conference call at 2 pm to review the legislation, but there's no real opposition there; they have 40 or more votes in favor.
There's still some confusion as to whether the Senate will push to pass this shortly after the House does tomorrow, or whether they'll shut the place down in observance of Rosh Hashanah, the Jewish new year. Possible scenario -- the Senate comes back in and passes it on Wednesday.
-- Paul Kane
September 28, 2008; 3:37 PM ET
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