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Senate leaders vow passage of bailout plan
14 minutes ago
WASHINGTON (Reuters) - The top Democrat and top Republican in the Senate on Tuesday promised swift action to pass a bipartisan financial rescue plan that the White House says is vital to protect all Americans as well as Wall Street.
A day after the House of Representatives narrowly rejected the $700 billion proposal, sending financial markets into a record tailspin, Senate Majority Leader Harry Reid and Senate Minority Leader Mitch McConnell called for an end to partisan bickering by members of their respective parties.
"The blame games needs to end and we need to move forward on doing what is right for our country," Reid, a Nevada Democrat, declared in a speech on the Senate floor.
"We will get the job done," added McConnell, a Kentucky Republican. "We'll get it done this week."
"Hopefully that will reassure the American people that Congress can rise to the occasion, act like grown ups," McConnell said.
There will be no votes in Congress on Tuesday because of a Jewish holiday, but Reid said he would confer with fellow lawmakers to find common ground and a way to move forward.
Reid said he conferred with White House Chief of Staff Josh Bolten and Democratic presidential nominee Barack Obama, who he said had just talked with President George W. Bush.
"We're working together to resolve this important issue," Reid said.
14 minutes ago
WASHINGTON (Reuters) - The top Democrat and top Republican in the Senate on Tuesday promised swift action to pass a bipartisan financial rescue plan that the White House says is vital to protect all Americans as well as Wall Street.
A day after the House of Representatives narrowly rejected the $700 billion proposal, sending financial markets into a record tailspin, Senate Majority Leader Harry Reid and Senate Minority Leader Mitch McConnell called for an end to partisan bickering by members of their respective parties.
"The blame games needs to end and we need to move forward on doing what is right for our country," Reid, a Nevada Democrat, declared in a speech on the Senate floor.
"We will get the job done," added McConnell, a Kentucky Republican. "We'll get it done this week."
"Hopefully that will reassure the American people that Congress can rise to the occasion, act like grown ups," McConnell said.
There will be no votes in Congress on Tuesday because of a Jewish holiday, but Reid said he would confer with fellow lawmakers to find common ground and a way to move forward.
Reid said he conferred with White House Chief of Staff Josh Bolten and Democratic presidential nominee Barack Obama, who he said had just talked with President George W. Bush.
"We're working together to resolve this important issue," Reid said.
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