Top Republicans Say Dem's Bailout Bill Will Fizzle on Monday
Top Republicans predicted on Sunday that the Democrat’s bailout bill will not reach the senate floor on Monday.
FOX News reported:
Top Senate Republicans predicted Sunday that their coalition will hold together to prevent a sweeping financial overhaul from reaching the Senate floor Monday, saying more needs to be done to make the package acceptable to their colleagues.
Senate Minority Leader Mitch McConnell told “Fox News Sunday” that key improvements need to be made to what he called a “partisan bill,” warning that if those fixes are not achieved the package could have unintended consequences.
“It’s my expectation that we will not go forward with this partisan bill tomorrow,” McConnell said. “It’s not ready yet. … It is important to pass a good bill.”
McConnell said that a $50 billion “bailout” fund in the bill has to be removed, creditors need to be treated more fairly and “enhanced capital requirements” need to be included to ensure the solvency of banks.
Alabama Sen. Richard Shelby, in an interview with NBC’s “Meet the Press,” also predicted that all 41 GOP senators will vote to delay the start of debate on the bill unless talks lead to an agreement.
He said he’s not optimistic that will happen by Monday.