WASHINGTON (Thomson Financial) - Senate Democratic leaders said today they are prepared to hold a vote on the Senate's version of the economic stimulus bill early next week, but acknowledged at the same time that Senate Republicans might be able to prevent the broader Senate version from passing.
'It appears at this stage that the Republicans are filibustering that,' Senate Majority Leader Harry Reid of Nevada said today.
Reid and other Senate Democrats said is unclear at this point exactly how many Republicans would vote for the Senate bill, but noted that three Republicans are already on record as supporting it. Democrats would need nine Republicans in order to get a total of 60 votes, which are need to end debate on the bill and allow it to be passed by the Senate.
If there are not enough Republicans to support the Senate bill next week, the Senate would immediately seek to pass the House-approved bill, which is supported by the White House, with separate amendments dealing with items that Democrats want to see added.
Reid said there would likely be amendments to increase funding for home heating oil subsidies, food stamps, expanded unemployment insurance, mortgage counselling, and money that would allow seniors and veterans to receive tax breaks that many other taxpayers would receive. Each of these items would need also 60 votes out of the 100 senators in order to end debate and approve the measure.
Language on unemployment insurance and expanding tax breaks to seniors and veterans is already in the Senate bill, but the White House has said repeatedly it favours the House bill that does not include this language.
Treasury Secretary Henry Paulson said earlier today he sees the Senate bill as 'too complex,' and said he wants the Senate to approve the House-passed bill. However, Senator Charles Schumer, a New York Democrat, noted today that the administration has not yet said it would veto the Senate version of the bill if it were to pass.
Reid said he spoke with Treasury Secretary Henry Paulson today and said he wants the Senate to approve a stimulus bill quickly, but said he would nonetheless try to pass the Senate bill next week before reverting to the House bill.
Reid also delivered this message to Senate Minority Leader Mitch McConnell, a Kentucky Republican.
'I said, Mitch we can either do this the hard way or the easy way,' Reid told reporters today. pete.kasperowicz@thomson.com pik/wash/ajb COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
© 2008 AFX News
