House Members Receive Angry Calls on Vote, Aide Says (Update1)
By James Rowley
Sept. 30 (Bloomberg) -- Voters flooded Capitol Hill offices today with complaints about the U.S. House's defeat of the $700 billion financial-rescue plan, a House Republican leadership aide said.
The tenor of the calls is a reversal from an earlier outpouring of voter opposition to the bailout legislation, the aide said.
Congressional leaders are discussing adding new provisions as sweeteners to entice more Republicans and Democrats to support the rescue plan after its 228-205 defeat yesterday in the House, the aide said.
House Republicans are proposing altering the measure by expanding the role of the Federal Deposit Insurance Corp. Under the plan, the FDIC would inject capital into the credit markets by assisting banks with troubled assets, the aide said. Another provision being floated would extend unemployment insurance, according to the aide.
White House Chief of Staff Joshua Bolten met last night with House Republican leaders as part of a redoubled effort by the Bush administration to revive the rescue plan, the aide said.
The chief negotiator for Senate Republicans, New Hampshire Senator Judd Gregg, said he was willing to consider proposals to expand the FDIC's role as well as raising the size of bank accounts the agency insures to $250,000 from $100,000 now.
``There are questions'' about the ``type of accounts'' and the cost of these proposals, Gregg said as he went into the office of Senate Republican Leader Mitch McConnell to confer about what to do next.
``There is no need for a meeting'' of House and Senate negotiators until the House makes clear how it wants to proceed, Gregg said.
To contact the reporter on this story: James Rowley in Washington at [email protected].
Last Updated: September 30, 2008 13:54 EDT
By James Rowley
Sept. 30 (Bloomberg) -- Voters flooded Capitol Hill offices today with complaints about the U.S. House's defeat of the $700 billion financial-rescue plan, a House Republican leadership aide said.
The tenor of the calls is a reversal from an earlier outpouring of voter opposition to the bailout legislation, the aide said.
Congressional leaders are discussing adding new provisions as sweeteners to entice more Republicans and Democrats to support the rescue plan after its 228-205 defeat yesterday in the House, the aide said.
House Republicans are proposing altering the measure by expanding the role of the Federal Deposit Insurance Corp. Under the plan, the FDIC would inject capital into the credit markets by assisting banks with troubled assets, the aide said. Another provision being floated would extend unemployment insurance, according to the aide.
White House Chief of Staff Joshua Bolten met last night with House Republican leaders as part of a redoubled effort by the Bush administration to revive the rescue plan, the aide said.
The chief negotiator for Senate Republicans, New Hampshire Senator Judd Gregg, said he was willing to consider proposals to expand the FDIC's role as well as raising the size of bank accounts the agency insures to $250,000 from $100,000 now.
``There are questions'' about the ``type of accounts'' and the cost of these proposals, Gregg said as he went into the office of Senate Republican Leader Mitch McConnell to confer about what to do next.
``There is no need for a meeting'' of House and Senate negotiators until the House makes clear how it wants to proceed, Gregg said.
To contact the reporter on this story: James Rowley in Washington at [email protected].
Last Updated: September 30, 2008 13:54 EDT
