Reid: Senate Will Vote on Bailout

Posted September 30, 2008 at 10:00am

One day after the House voted down the financial rescue plan, Senate Majority Leader Harry Reid (D-Nev.) pledged to have a vote on a bailout proposal in the near future.

Reid on Tuesday did not say when the Senate would move to the bailout bill or what it might look like in order to attract more support from House Republicans, stating only that a vote will happen.

“The blame game needs to end. … We need to move on to doing what’s right for our country,” Reid said in his opening remarks on the Senate floor.

Minority Leader Mitch McConnell (R-Ky.) agreed, saying that he will work with Reid to get the legislation passed. McConnell said the reaction on Monday from the markets was clear enough to force wavering lawmakers to support the program.

Reid plans to meet with Banking, Housing and Urban Affairs Chairman Chris Dodd (D-Conn.), Majority Whip Dick Durbin (D-Ill.), Sen. Jack Reed (D-R.I.), and other Democratic lawmakers who were involved in the negotiations on Tuesday to map out the way forward on the administration’s proposal to save several struggling financial institutions.

Reid said that he spoke with White House Chief of Staff Josh Bolten and Democratic presidential nominee Sen. Barack Obama (Ill.) Tuesday morning about the bailout plan.

Reid said that when lawmakers return Wednesday evening from the Rosh Hashana break, they will vote on the Amtrak bill and possibly the India nuclear agreement. Reid is trying to reach a deal with McConnell to bring the India deal to the floor.

The Senate will hold no votes Tuesday because of the Jewish holiday.