US House leader unsure of bailout vote this week

30 September 2008 20:47  [Source: ICIS news]

WASHINGTON (ICIS news)--The US House of Representatives will reconvene on Thursday this week but it was unclear whether a new financial rescue plan will be taken up then, a top House Democrat said on Tuesday.

 

House Majority Leader Steny Hoyer (Democrat-Maryland) said that while House members remain focused on “a bipartisan response to the economic crisis facing our nation”, he could not say whether a new or revised bailout plan would be considered on Thursday.

 

“What is absolutely clear is that the threat to our economy and millions of working Americans requires that we act,” Hoyer said.

 

However, he added, although the House is scheduled to reconvene at noon Washington time (14:00 GMT) on Thursday, “It still remains to be decided when the House will consider new legislation regarding the economic crisis”.

 

Hoyer is the next-highest Democrat in the Democrat-controlled House, second only to House Speaker Nancy Pelosi (Democrat-California).

 

The first attempt to get the controversial $700bn (€483bn) financial rescue legislation approved by Congress failed on Monday when the House voted against the measure 228-205.

 

Earlier on Tuesday, Hoyer’s counterparts in the US Senate expressed confidence that Congress will complete action this week on a bailout measure.

 

Hoyer’s statement, which appeared to cast doubt on prospects for congressional resolution this week, also followed a statement earlier on Tuesday by President George Bush, calling on Congress to act quickly to rescue the US economy.

 

($1 = €0.69)

 

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By: Joe Kamalick
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