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(The Politico) Three Republicans in a row have marched to the Senate floor today to call for the upper chamber to take up and pass the $700 billion economic crisis legislation, saying the Senate needs to send the right message to the world economy after the effort imploded on the House floor Monday.
Despite the volatility of the issue, Senate Republicans are now pushing for the Senate to forge ahead on the legislation. A spokesman for Senate Majority Leader Harry Reid (D-Nev.) says there are no immediate plans for the Senate to take the lead, adding that Reid was going to "proceed very cautiously" given the failure of the bill in the House.
But Senate Minority Leader Mitch McConnell (R-Ky.), seemed to step out in front of the situation this morning, despite facing resistance from conservatives in his caucus and an increasingly tough re-election back home in Kentucky.
"I too want to reassure the American people that we intend to pass this legislation this week,"
McConnell "We will pass it on a broad bipartisan basis, both sides cooperating to prevent this financial crisis from persisting. I think the message from the markets yesterday was clear. The time for finger pointing indeed has come to an end."
Before the House vote on Monday, Reid confidently predicted the Senate would easily get 60 votes on the bailout bill. No such predictions are now being made, and Democrats aren't out on the Senate floor offering passionate pleas to pass the bill.
"Democrats will look at all options to move forward on a rescue proposal that prevents a serious economic crisis, bring much-needed oversight and transparency and protects taxpayers," Manley said. "But we will need Republicans and Democrats alike to work together in a bipartisan fashion to get this done."
Originally posted by JacKatMtn
If the Senate passes some form of the Paulson proposal...
Expect a quick and easy passing by the House Dems...
Originally posted by JacKatMtn
Russian leader and Aussie leader calling on the US CONGRESS to pass the bill?
Since when does the US congress take advice from foreign leaders?
Clinton: 'It Sounds Dire, But Commerce Could Stop'
Says She Understands The Concerns Of 'Innocent Taxpayers,' But A Possible 'Recession Impacts Everyone'
WASHINGTON (CBS/AP) ― Sen. Hillary Rodham Clinton says the U.S. Senate may have to lead the way in passing a $700 billion Wall Street bailout package, now that the House has rejected the measure.
"I certainly would support the Senate going first, so long as we have the votes ... as early as tomorrow if that's what would make this process successful," Clinton told reporters by phone Tuesday.
The New York Democrat, who nearly won her party's presidential nomination, said she believes public opposition to the bailout deal may be weakening after the market reacted badly to the failed House vote Monday and more businesses express worries about the future.
"It sounds dire but there is a risk that commerce could grind to a halt," she said.