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House Debate Heated as Bush Pushes Bailout

But whether bill will pass remains up in the air

By Matt Cantor,  Newser Staff

Posted Sep 29, 2008 10:58 AM CDT
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(Newser) – President Bush called on lawmakers this morning to support the hotly-contested bailout bill as the House began debate and leaders on both sides of the aisle counted defections, Politico reports. ““Every member of Congress and every American should keep in mind: A vote for this bill is a vote to prevent economic damage to you and your community,” Bush said. He acknowledged fears about the bill’s cost, but said much of it would be paid back.

Both presidential candidates have come out in support of the bill, as have both parties' congressional leaders. But it's not clear whether they have the votes to pass it, despite a number of oversight measures built into the bill’s latest incarnation to assuage taxpayer hostility. “For this to pass, a lot of people are going to have to change their minds,” one House Republican tells Politico.

This is something that all of us will swallow hard and go forward with, John McCain said of the bill on ABC.
"This is something that all of us will swallow hard and go forward with," John McCain said of the bill on ABC.   (AP Photo/Lauren Victoria Burke)
President Bush discusses the bill Monday, Sept. 29, 2008, on the South Lawn of the White House.
President Bush discusses the bill Monday, Sept. 29, 2008, on the South Lawn of the White House.   (AP Photo/Charles Dharapak)
Senate Majority Leader Harry Reid, D-Nev., and Secretary of the Treasury Henry Paulson, right, are seen at a news conference to announce a tentative deal the bill yesterday.
Senate Majority Leader Harry Reid, D-Nev., and Secretary of the Treasury Henry Paulson, right, are seen at a news conference to announce a tentative deal the bill yesterday.   (AP Photo/Lauren Victoria Burke)
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Congress • bailout • George W. Bush • bill • financial crisis

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