[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2008/POLITICS/09/24/congress.mccain.reaction/art.mccain.media.ap.jpg caption="Reaction to McCain’s statement fell along party lines."](CNN) – Democratic leadership reacted to John McCain’s Wednesday announcement that he wants to return to Capitol Hill to work on the economic bailout plan and postpone the first debate by saying “presidential politics” should stay out of the negotiations.
Democrats on the Hill told CNN’s Jessica Yellin that after days of negotiations, they are close to coming to a consensus. If McCain comes back to Washington in the final stretch, they said they fear the Republican nominee may take credit for the deal.
Related: Democrats call McCain move a "stunt"
Senate Majority Leader Harry Reid said with the economy in turmoil, now is the perfect time for the candidates to discuss the issues on the national stage.
“It would not be helpful at this time to have them come back during these negotiations and risk injecting presidential politics into this process or distract important talks about the future of our nation’s economy,” Reid said in a statement. “If that changes, we will call upon them. We need leadership, not a campaign photo op.”
WASHINGTON (CNN) - The House ethics committee voted Wednesday to investigate the conduct of Rep. Charles Rangel, the powerful chairman of the House Ways and Means Committee.
The New York Democrat has admitted to failing to pay taxes on a rental property he owns in the Dominican Republic but said it was an honest mistake.
He is also accused of improperly using a rent-controlled New York apartment as an office and of using his position as a congressman to benefit a New York educational center that bears his name.
Rangel has denied intentional wrongdoing, and has said he will not step down from his committee chairmanship.
The House Committee on Standards of Official Conduct will set up an investigative subcommittee to look into the allegations and "determine whether Rep. Rangel violated the Code of Official Conduct or any law, rule, regulation, or other standard of conduct" as a congressman, it said.
(CNN) - McCain senior advisor Mark Salter told reporters Wednesday that the Arizona senator’s decision followed two days of discussions with colleagues on Capitol Hill, who told him that the bailout plan from Treasury Secretary Hank Paulson faced an uphill fight.
He also said that McCain called President Bush today and told him of the plan, but would not characterize the president’s reaction to the proposal.
The McCain campaign will suspend airing all ads and all campaign events pending an agreement with Obama, as well as planned fundraising activities.
He added that McCain would take part in the debate as scheduled if Congress reached agreement on the measure by Friday morning.
(Updated to reflect McCain campaign announcement fundraising activities will be suspended)
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