September 30th, 2008
08:15 PM ET
14 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.


Filed under: Economy
soundoff (262 Responses)
  1. David

    McCain the politician, is he really serious whren he talks of country FAST. How about that spin about Obama talking about the bail-out (or rescue plan) – linking it with his(McCain) fundamental statements. Enough is Enough. I am done with McCain. he cannot be trusted.

    September 30, 2008 08:57 pm at 8:57 pm |
  2. Does Obama Palin Comparison?

    Let me get this straight...McCain proposed legislation regulating Freddie and Fannie a couple of years ago. The Democratic majority pushed back on limitations on Democratic run Fred & Fan, and pressured them to allow their mid and low income constituents to purchase homes – with loans that they we're qualified to get.

    It looks like socialistic liberals have really been the cause of this mess...

    September 30, 2008 08:57 pm at 8:57 pm |
  3. Brian loves Palin

    Socialist democrats can't put the country first, they have to add a socialistic program that will cost the taxpayer evern more money than the $700 billion price tag of this bill so that we have to add mental health parity and all of the likely fraud that comes with it to this bill.

    Wait till the great Socialist Barack Obama has power with the Congress and Senate majority and you can kiss our way of life goodbye and say hello to socialism government rules, regulation and taxes. They will tax the hell out of all of us.

    God help us. We need people first and country first, not Socialism first.

    McCain Pail and Hillary supporters 2008

    September 30, 2008 08:57 pm at 8:57 pm |
  4. Republican for change

    McCain talks about the importance of experience…he vetted Palin

    McCain talks about making Wall Street accountable…he was an advocate of non-regulation

    McCain talks about protecting blue collar jobs…he’s an advocate of unfair international trade deals

    Open your 3rd eye. If you haven’t seen these inconsistencies by now you’re hopeless.

    September 30, 2008 09:00 pm at 9:00 pm |
  5. Does Obama Palin Comparison?

    I think everyone knows somebody like Obama...You know, that guy at work who pretends to know everything and everyone, to pump up their sense of self-worth...

    A real leader would be in the trenches throughout this economic crisis...Not standing on the sidelines, saying "you guys call me if you need me, OK?"

    September 30, 2008 09:01 pm at 9:01 pm |
  6. Steve California

    It's good to see all three of them are heading back for the vote. At this time, there presence is required. When McShame went back, it was only politics!

    McShame: now he's using one of Obama's speech's out of context to say that Obama agrees with McCain about "the fundamentals of the economy being strong" and calling him a hypocrite. The only hypocrite here is McShame. Stop trying to mislead people with your spinning of the truth. I realize the truth is not going to win you the election, but neither is telling all your lies!

    September 30, 2008 09:02 pm at 9:02 pm |
  7. mitch


    September 30, 2008 09:02 pm at 9:02 pm |
  8. JBP

    What's McCain gonna pull this time?

    September 30, 2008 09:03 pm at 9:03 pm |
  9. LeMonton, currently in Dallas,TX

    Expectations are so low for Palin that if she manages to pronounce her name right she'll be declared the victor of the debate.

    September 30, 2008 09:03 pm at 9:03 pm |
  10. olawuwu babatunde

    well,i respect mcain for his experience and principle but obama is an extra ordinary man with great potentials and ability to earn america her lost glory.

    September 30, 2008 09:03 pm at 9:03 pm |
  11. Steve from Vegas

    Let's vote NO! on this one too...

    September 30, 2008 09:04 pm at 9:04 pm |
  12. barbara miller

    Country First – LA second!
    Hmmm – do John and Cindy REALLY have to not show up at their big LA galla fundraiser???? Oh well, country first.

    September 30, 2008 09:06 pm at 9:06 pm |
  13. Let

    Where is Palin? McCain didn't 'allow' her to come out and make a decision on her own?

    September 30, 2008 09:07 pm at 9:07 pm |
  14. LONG

    At last, Obama is returning to Washington as a lawmaker senator, or a public servant, acting on the problems during national crisis. He does not understand the priorities, while McCain has worked on the bailout issue before and right after the debate. McCain puts country first, and personal campaign or interest last.

    September 30, 2008 09:08 pm at 9:08 pm |
  15. Griff

    It is so fantastic listening to CNN. In November! Most of CNN will dive for the nearest exit... CNN and their vision for Barack Obama, is a "Wild gamble", on their dreams.... Don't make tto big a wager!!! Because you will lose! Lose, Lose, Lose. In May this year I saw, where You dreamed.... My life has gone "Ten Fold"; in tha last Four Years. But then I'm Psychic.. CNN are Dreamers...

    September 30, 2008 09:10 pm at 9:10 pm |
  16. Joe


    How is this happening and why are they getting away with shoving it down our throats!?

    September 30, 2008 09:15 pm at 9:15 pm |
  17. Anna

    they really should look at alternatives before they jump into 700 billion dollars spent in a day.
    There are some very sophisticated and successful people who think this is a HUGE mistake.

    September 30, 2008 09:17 pm at 9:17 pm |
  18. Lucky

    C'mon they want the poor people to bail out the rich people and the rich people do not want to be accountable for what and how they spend.

    September 30, 2008 09:17 pm at 9:17 pm |
  19. Griff

    Mentallity? That means stop living in the past! I keep hearing about "ME"! Me, Me, Me. Mentally E? You decide what that means CNN. Exstreem? Mentally Extricate???

    September 30, 2008 09:18 pm at 9:18 pm |
  20. Anonymous

    Thank God! Senate, that's for showing love for the country and the sense of maturity as adults running this country!

    September 30, 2008 09:19 pm at 9:19 pm |
  21. peter esquilin

    Personally I could care less about the bailout since our wonderful political and trustworthy President and Republican congress got us into this mess, I say let it crash and take our chances and our wonderful Maverick John McCain,why should we stick our necks for these greedy people with our tax money except I am hoping Senator Obama will be our next President and clean up Washington.

    September 30, 2008 09:19 pm at 9:19 pm |
  22. Anna

    not to mention the fact that it was crafted by the White House cabinet staff!
    One can only hope John McCain's heavily criticized trip to Washington last week did create enough of a DELAY to blow this deal.

    Something needs to be done, but all options should be explored before we rush to judgment.

    Of course, the two top guys for the big prize in November don't seem to have a clue one way or another!

    September 30, 2008 09:20 pm at 9:20 pm |
  23. Maggie

    Why don't McCain bring Palin along to observe. Maybe she can answer the bailout question a bit better next time it's asked. Oh, I forgot, back to debate camp. Free Palin!

    September 30, 2008 09:21 pm at 9:21 pm |
  24. Dawn

    Will Mc Cain suspend his campaign and postpone the most exciting debate of our life time?

    September 30, 2008 09:22 pm at 9:22 pm |
  25. Frankie

    Not good enough! This is still 700+ billion of the peoples money! No...No...No!!! I want heads to roll from this debacle! Talk to Newt Gingrich! He is the smartest man in Politics today! Seek him out NOW!!

    September 30, 2008 09:23 pm at 9:23 pm |
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