September 30th, 2008
08:15 PM ET
6 years ago

McCain, Obama, Biden to return to D.C. for Senate bailout vote

WASHINGTON (CNN) – The Senate plans to vote on the $700 billion bank rescue plan Wednesday evening - two days after the House failed to pass it.

The bill adds provisions - include raising the FDIC insurance cap from $100,000 to $250,000 - and will be attached to an existing revenue bill that the House also rejected Monday, according to several Democratic leadership aides.

The vote is scheduled for after sundown, in observance of the Jewish holiday. Republican presidential nominee John McCain and Democratic nominee Barack Obama and his running mate Joe Biden confirmed that they would be present for the vote.

The bill also includes a "Mental Health Parity" provision, which would require health insurance companies to cover mental illness at parity with physical illness.

Democratic sources told CNN that they expect bipartisan support for the bill. Because tax bill must originate in the House, the Senate is attaching the rescue plan to a bill that deals with renewable energy tax incentives.

This would allow the Senate to vote before the House to approve a bailout bill.

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Filed under: Economy
soundoff (262 Responses)
  1. Winning With Obama

    Come on Obama, git 'er done. Goodness knows McCain is completely clueless so it's up to you. And don't we love Sarah Palin? She's the gift to the Democratic party that keeps on giving. Thanks McCain!

    September 30, 2008 10:26 pm at 10:26 pm |
  2. Go Away McCain

    Come on Obama, git 'er done. Goodness knows McCain is completely clueless so it's up to you. And don't we love Sarah Palin? She's the gift to the Democratic party that keeps on giving. Thanks McCain!

    September 30, 2008 10:26 pm at 10:26 pm |
  3. embarrasing mcshame

    can anyone propose soemthing that helps the regular american and not the rich CEOs only?
    can someone stand up to the rich republicans?

    please someone come up wtih something that will help me who pays taxes every year,
    who feeds a family every year
    who loves this country
    loves own children
    someone like the rest of the honest, hard working american people

    this plan will support the GOP, Bush, Cheney their friends in all the big companies, not us........ not the regular people

    mcmean is out of touch
    he is out of control

    September 30, 2008 10:28 pm at 10:28 pm |
  4. Go Away McCain

    Democrat For John McCain – ARE YOU NUTS!!! Get over your racial inadequacy, because, despite what you say, it's all about Obama being black. In this case, HE IS THE BEST QUALIFIED FOR THE JOB. Deal with it!

    September 30, 2008 10:28 pm at 10:28 pm |
  5. Anonymous

    Is McCain riding in on his white horse to save the country? He supposedly gave up campaigning (for what–almost a whole day) to give the Republicans the benefit of his vast economic experience. The Republicans then voted down the bailout he supported. Way to go John!! Then he told us all those Republicans voting against the bailout were because of Obama. I thought John led the Republican party. Way to go John!!

    September 30, 2008 10:28 pm at 10:28 pm |
  6. Jack Six Pack

    Where is John "the deregulator"? It seems interesting that the republican party has taken so many positions on the topic of the American Economy.

    One consistent notion comes through from the republicans – They don't care about the average man, woman or child in America – they got their and the heck with the rest of you.

    Oh, but please vote for us because, lie lie lie lie lie lie------

    September 30, 2008 10:29 pm at 10:29 pm |
  7. len2000

    TO: gerri September 30th, 2008 10:13 pm ET

    HAHAHAHAHAHAHAHAHAHAHA.

    Please tell me you were kidding with that comment.

    FYI... The Jewish population of the US in one of the largest in the world. Around 40% of the Jewish population in the world lives in this country.

    Thanks... you gave me a real laugh (though your complete ignorance is really not very funny).

    September 30, 2008 10:29 pm at 10:29 pm |
  8. Ken

    Okay, number 1, you cannot vote "present" in the US Senate, only in the House. You can not vote, as John McCain hasn't since April. That's what surprises me, he'll actually be voting for the first time in nearly six months tomorrow. Biden I expected, they're also supposed to vote on an Amtrak bill, and folks know that's near and dear to his heart.

    September 30, 2008 10:29 pm at 10:29 pm |
  9. Steve California

    While asking Obama to return is Freddie Fannie "bribes", lets also ask McShame to return his EVEN BIGGER "bribe". Get your facts straight!

    September 30, 2008 10:29 pm at 10:29 pm |
  10. Jack

    Where is John "the deregulator"? It seems interesting that the republican party has taken so many positions on the topic of the American Economy.

    One consistent notion comes through from the republicans – They don't care about the average man, woman or child in America – they got their and the heck with the rest of you.

    Oh, but please vote for us because, lie lie lie lie lie ------

    September 30, 2008 10:30 pm at 10:30 pm |
  11. TyWebb

    Hey, "Democrat for John McCain", what does "sikcne" mean? Did Palin write your post?

    September 30, 2008 10:31 pm at 10:31 pm |
  12. J

    Where is John "the deregulator" McCain? It seems interesting that the republican party has taken so many positions on the topic of the American Economy.

    One consistent notion comes through from the republicans – They don't care about the average man, woman or child in America – they got their wealth and the heck with the rest of you.

    Oh, but please vote for the republican candidate because, lie lie lie lie lie lie------

    September 30, 2008 10:31 pm at 10:31 pm |
  13. Steve California

    While asking Obama to return is Freddie Fannie "bribes", lets also ask McShame to return his EVEN BIGGER "bribe". Get your facts straight!

    C'mon CNN, don't skip this important rebuttal to John's comment above!!!

    September 30, 2008 10:31 pm at 10:31 pm |
  14. Ken

    I hope that all three of them listen to what the majority of the American people are saying, and that is NO WALL STREET BAILOUT!

    I think that this is all a scam and the majority of the American people see it for just that. The rich get richer, and the poor get poorer.

    Let the "over paid" CEOs pay to get them out of the mess that they gotten themselves into.

    September 30, 2008 10:33 pm at 10:33 pm |
  15. Republican for Obama

    I don't know why McCain bothers to go to Washington. They didn't want him there the last time he went and he didn't do anything while he was there. Even his fellow politicians from Arizona didn't follow his request to vote for the bailout. I guess he has no where else to go since no one goes to see his political rallys when Sarah isn't along.

    September 30, 2008 10:34 pm at 10:34 pm |
  16. Jack

    Well – obama is going to do his JOB – Finally!!!!
    What about all the corrupt $$$$$ from Raines – or Ayres – or ACORN??
    Let's talk about that!

    Obama is a FRAUD –
    McCain – a LEADER we can TRUST to take good care of our country.

    September 30, 2008 10:35 pm at 10:35 pm |
  17. Leigh

    I do not want to bail out Wall Street at the expense of Universal Health Care.
    I want money for that left alone.

    September 30, 2008 10:36 pm at 10:36 pm |
  18. Steve A. , New Braunfels , Texas

    I advise any candidate who is serios about being elected to not vote for this bailout.

    September 30, 2008 10:36 pm at 10:36 pm |
  19. Marilyn

    Glad they are getting something done. Heard of two people who lost thousands of dollars in retirement benefits. Market lost more yesterday than what the rescue is for. This is effecting main street, everyday people are loosing savings and if something isn't done, more people will loose their jobs and homes.

    My congressman voted NO Monday much to my surprise and I know I only have one vote, but it will be one vote less he will get.

    September 30, 2008 10:36 pm at 10:36 pm |
  20. phil-texas

    What we need is phil gram to come in and write a new way to steal and rape the american people. We are all little lillyputians that have no say so in what happens to our future. We need some smart person to figure it out for us. Remember we are a nation of whinners also don't forget that gram is one of John's best friends' and trusted advisors. Vote for a change.

    September 30, 2008 10:37 pm at 10:37 pm |
  21. Kathe

    The bailout will not work, it is putting good money after bad. The Congress needs to address the core issues; Freddie Mac, Fannie Mae, mark to market, capital gains taxes etc. Have hearings, get information from the people that know how to fix this problem and then enpower the people to fix the problem. The bailout plan that was presented to the House has an oversight committee that consists of government employees (would this be because they did such a good job with the initial oversight?) Can they really expect us to trust them to fix this problem?

    September 30, 2008 10:37 pm at 10:37 pm |
  22. Pamela

    C'mon people, somebody has to be the grown up here. Yes, this is a bitter pill but things have to get stabilized. Those of us who have been investing for the future have been seeing our savings drop at a rate of thousands per day. Be prepared for more difficult choices ahead no matter who becomes president if we are going to get this country back on the road to recovery after Bush.

    September 30, 2008 10:38 pm at 10:38 pm |
  23. Michael

    Still beating the "present" horse deader than dead. Considering it was a valid tactic in the Illinois State Senate which took place of saying "I like some parts, but not others, lets continue to work on it" and to which it only comprised some 3% of Obama's entire vote count during his tenure there. As for earmarks in the rescue bill, there are none, people are confusing two different bills. My apologies, I'm off to beat my own dead horse, the one labeled "educating the ignorant".

    September 30, 2008 10:38 pm at 10:38 pm |
  24. JohnJon

    No Bailout is needed. //When are you people going to get it. If you can't understand what this means then why make a statement at all. Never ceases to amaze me how some people can sit there and say no bail out. This is not only for the banks and markets, this is for the average America who will need to get credit for bills or repair to homes, cars and such thing. This is also for your employer so he can pay your wages every two weeks. Without it, your out of a wage and a job. Why is this so hard to understand? But go ahead, tell all your representative to vote no and see how long you have your job, home, cars, childrens college money. You'll all be crying and whining to all the people you told to vote no. You will only have yoursleves to blame. Foolish, foolish people

    September 30, 2008 10:38 pm at 10:38 pm |
  25. Dave

    I would like to know what connection George Bush has with the investors that are giving money to the Banks. Who is buying these failed mortgages and are they connected to the oil industry. Could it be that the lie that was sent to Washington by George Bush to Bail out the financial industry is meant to recover funds for George Bush’s friends and the oil industry?

    September 30, 2008 10:38 pm at 10:38 pm |
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