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House GOP leaders give support to $700B bailout
WASHINGTON (AP) - House GOP leaders say they support the $700 billion bailout for the financial industry and will try to get fellow Republicans to back it.
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
"Nobody wants to have to support this bill," said Rep. John A. Boehner, R-Ohio, the minority leader. But, he added, "I'm encouraging every member whose conscience will allow them to support this."
Senior House Republicans emerged from a lengthy closed-door meeting with rank-and-file lawmakers saying the bill was needed to avert an economic crisis. It's slated for a vote Monday.
It was opposition from within their ranks that nearly derailed the package late last week. Many GOP lawmakers believe the government shouldn't interfere in financial markets.
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
