Pressure on House to Pass Economic Rescue Plan
Amy Kibler
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By Amy Kibler
Six & Special Projects Producer
Published: October 2, 2008
The Senate voted yes, and now the pressure’s on for lawmakers in the House to pass the economic rescue plan. The Senate overwhelmingly passed the revised plan Wednesday; Representatives could vote as early as tomorrow morning. Under the revisions, lawmakers added $100 Billion in tax cuts for the middle class and businesses and increased the cap on federal deposit insurance to $250,000. But, party leaders on both sides are still playing it safe.
“We’re not going to take the bill to the floor unless we have the votes, I’m optimistic that we will take the bill to the floor,“ House Speaker Nancy Pelosi said.
Democrats argue taxpayers shouldn’t have to pay for Wall Street’s mistakes. And with just a month till Election Day, lawmakers say this bill could be a make it or break it for their seats on Capitol Hill.
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