Senate Action on Bailout
Expected in Next Few Hours
Traditionally, bills having to do with money are taken up in the House first but, after this week's implosion there, the Senate has decided it has to move. That's fine as far as it goes but its definition of movement has us shaking our heads.
The lesson Senators appear to have taken from the House vote is NOT that we should move in a direction that puts ordinary hard-working Americans first. Rather, the Senate seems to think that the only thing to be done is to pander to the Right in order to buy them (quite literally) off so they can get a vote and go home to campaign. Their election panic is only matched by the panic generated by Secretary Paulson and many in the media. Voters are scared and clearer heads are running for the exits.
The bill the Senate is taking up tonight has been negotiated with, among others, John Boehner. Why we ask weren't the Members of the Congressional Progressive Caucus consulted? Their votes alone could have passed the bail out if only it had been adequate. Why is our team so hell bent on negotiating only with ultra-Right free marketers? Just as one simple example we say that the notion that the way to solve this problem is by giving tax breaks to the wealthiest and to the very corporations who brought us to the brink of disaster is pure unadulterated hogwash.
Yet, the Senate is slated to vote this evening on a bill that would do just that. Contact Senators immediately and tell them to take a deep breath and take the time to craft a bail out which not only is a real solution to the problem but also puts the needs of the vast majority of Americans first. Email them the principles we sent out yesterday and demand that they be met. There is word the Congressional email system is jammed with your messages. If email doesn't work, try calling 202-224-3121and tell your Senators directly what you think of the bail out or contact their local offices.
Fortunately, the House is not scheduled to vote until Friday. That gives us a little bit of time. Senate action, however, will be completed early this evening. Don't wait. Reach out to your Senators now.