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. Abby

    Obama can show up for work now – and do his job – vote Present.
    Then the DNC will try to take credit – IF it works – or claim Present" if it fails. How nice – what a great group of Leaders!

    McCain took charge – and spoke up for the American people – he will do the Right thing for our country.

    September 30, 2008 10:38 pm at 10:38 pm |
  2. Obama For President

    Like many people I'm not fully on board with the bailot plan but if yesterday was an indication of what could happen if congress don't take action then I'm all for it. Obama is right in that if the two parties have any good ideas then let sit down and talk about them but blaming each other will never solve anything in a crisis. COOL HEADS RULE.....................HOT HEADS DOOM.

    Please people think about future and forget about past........we need to move forward to solve this crisis.

    September 30, 2008 10:40 pm at 10:40 pm |
  3. Kris

    Let's ask Dodd, Raines, ACORN & Obama just where all this $$$$ went – and the Millions more will go???
    They are the ones that got America in this mess – the American people will "fix" this mess in the VOTING polls.

    McCain/Palin – BEST for our country

    September 30, 2008 10:41 pm at 10:41 pm |
  4. Justin from CT

    I am proud Kucinich had the balls to vote against the bill. The far left and far right are the only ones listening to America apparently.

    September 30, 2008 10:41 pm at 10:41 pm |
  5. Molly

    CNN – I have a question – Can anyone post on this NEWS site – or just the obama gang?????

    September 30, 2008 10:43 pm at 10:43 pm |
  6. Judy from PA

    Is Biden going to talk about being shot at again? Oh wait, that's only a problem when Hillary misspeaks!

    September 30, 2008 10:43 pm at 10:43 pm |
  7. Jason

    To those who just say Obama is going to vote present...did I read that McCain voted present on the last bailout when obama actually voted in favor of it? Just curious. I could be wrong. McCain is just full of it and I'm tired of the McCain camp just pulling random things out of their butts to attack Obama on.

    McCain lied...example...He suspended his campaign when in reality he didn't...he still ran ads against obama and still had Palin running around for him and didn't RUSH to washington...he RUSHED to NBC to do an interview and left the next day and got there at the SAME TIME as OBAMA, who multitasked and managed his time well.

    September 30, 2008 10:43 pm at 10:43 pm |
  8. Alice

    While I certainly support mental health parity, what does it have to do with bailing out Wall Street?

    What a strange addition to the bill . . .

    September 30, 2008 10:53 pm at 10:53 pm |
  9. Jr

    I know Obama wont to vote yes.

    Vote Obama 08

    September 30, 2008 10:54 pm at 10:54 pm |
  10. Anna

    Republican for Obama:

    That's nice that he is out talking to people about what he is going to do after January 20th, when the big blowout is happening now.

    Now is the perfect time for the Agent of Change to be Brilliant.
    Knock our socks off. Bring Washington to it's knees AND whip that partisan pandering Congress into shape! If he was what he has been promising to be, he would be doing it already, because now is the time the Country needs it, not after it all falls apart and each can blame the other for the fallout.

    Multi-tasking? Like the guy works from a cubicle???
    Sure, we all can relate to juggling several things at once (relatively common, mundane tasks that we can do without thinking too hard about it). But even the humblest worker shrewdly knows when something comes up that requires their full attention and focus.

    A full scale economic meltdown might be one of those times.
    It wasn't the Rockefellers, Astors, and Vanderbilts that were waiting in bread lines after 1929, it was common folk like me.

    September 30, 2008 10:55 pm at 10:55 pm |
  11. Jr

    The bailout will not work, like GAMBALER!!!!!! WIN AND LOOSE

    September 30, 2008 10:58 pm at 10:58 pm |
  12. Kathe

    I do not believe that anyone is saying that the system is not broken. I think the argument/discussion is more about how to fix the problem. When we faced a very similar situation with the savings and loan companies, the government was able to put a plan in place the did not cost the American people the one hundred billion that was forecasted. The plan allowed the savings and loans that were capable, to clean up their own messes and the money that was lost was covered by insurance through the FDIC.

    September 30, 2008 11:02 pm at 11:02 pm |
  13. Shaun

    I am of the American media. It is very obvious to the world
    that they are sexist and totally biased in favour of Obama.

    I just hope that Americans see the system for what it really is – a sham! We keep talking about change but we really do not want real
    change. I hope Palin whips Biden on Thursday.

    September 30, 2008 11:03 pm at 11:03 pm |
  14. John

    I agree with you Ron, the Reps. are setting the Dems up, and when the voting is done, McStupid will tell everyone how he voted no to the bailout. That way he can be a hero to the American people. Scary thought!!!!!!!!!!

    September 30, 2008 11:06 pm at 11:06 pm |
  15. Republican for Obama

    This is to DAVE who wants to know why George Bush is tied to this mess..
    It all has to do with BIG LIES DAVE... Big lies George Bush has told to this country almost since the day he was first elected. Now it's like the little boy who cried wolf once to often. We the people, don't know if we should look for the wolf or just keep on walking. It seems most of the folks now prefer to just keep on walking rather then fall for another George Bush Lie...

    Rather then make his money men, who by the way failed him, stand up in front of the people they are trying to get the money from (us) and tell (us) they have stollen from us, he, being big daddy Bush, thought he could come out once again and scream WOLF WOLF and we would all be very afraid and give him the gun to shoot the wolf . Instead we have told him to go kill the wolf himself.

    And so the story goes Dave, don't cry wolf unless there really is one whether its in Iraq or at home.....

    September 30, 2008 11:07 pm at 11:07 pm |
  16. Raymond Duke

    I am surprised that Obama can take the time off to be bothered by such a trival problem. He usually just waits and does nothing qand then points out the problem and never gives a solution. Maybe this time he has had time to talk to his mentors , Reverend Wright , Ayers and Resko. Oh I forgot his bosses Michelle Obama and nancy Pelosi. All these women wanting to vote for Obama after the way they did hillary clinton and now the same tactics being used by the Obama camp , the dnc leadership and the liberal media. They must know that you people are crack heads and have not got no diginity , self respect or a brain left in your head. No self respecting man will vote for Obama that has been called , whitey , cracker or racist. I would vote for Putin before I would this black anti american socialist. Putin is more of a capitalist than this guy.

    September 30, 2008 11:09 pm at 11:09 pm |
  17. tim

    Mr. Obama has never had a job, never signed a payroll, never
    run a business never taken responsibility for anything of any importance
    and is basically just a windbag.
    He should be a commentator.

    September 30, 2008 11:10 pm at 11:10 pm |
  18. Danny

    The rest of the world is doing bail outs. They've done it in the past. It works. They're waiting for America to fall in line. And if America falls in line, it will work for the world. If America doesn't...well...the world will have a problem with their money in America.
    And that is one of the foundations of our economy. It's a global economy stupid.
    We need a bail-out.
    We just need to figure out who gets the help now.
    Hopefully not the CEOs that caused this crap.
    In the long run, it will work.

    September 30, 2008 11:11 pm at 11:11 pm |
  19. What ever

    Vote Palin!!!!!

    Maybe if Sarah Palin gets in to the white House she can reform government. She will out of useless government members keep just enough to run the Country. That would save hundred thousand of $ to help wall street and America.

    September 30, 2008 11:11 pm at 11:11 pm |
  20. joel

    Well.... Who's going to bail out Palin? So she heard Biden's speeches when she was in the 2nd grade, 8 years old.... hmmm I was 7 in the 2nd, did she fail? and what speeches did she hear a Juniro congressman make? ("gotta get Joe Frazier")

    September 30, 2008 11:14 pm at 11:14 pm |
  21. RG

    People, listen and keep an open mind about this. If the credit is not available for those of us who have small businesses or work for corporations already experiencing financial difficulties, many of us would be without jobs and many of our families would be in the middle of a financial nightmare. Not the best solution one can think of but after listening to different sources and being warned of the potential outcome if no action is taken, I think that it is a least a shot. Just make sure to vote based on who you really think would be better at getting us out of this mess!!

    September 30, 2008 11:15 pm at 11:15 pm |
  22. Anonymous

    I just realized one thing that got me thinking. I usually get multiple credit card offers every week. But other than my current card wanting me to transfer other balances, I havent had one credit card company trying to get me to sign up for one in the last 3-4 weeks. Perhaps credit really is drying up for us typical people.

    And by the way, the Senate is doing this at night because of a Jewish holiday. Perhaps people making an issue think they should ignore it? Democrat for McCain, when Obama actually votes will you post on a blog here that you were wrong? Probably not.

    September 30, 2008 11:18 pm at 11:18 pm |
  23. James L.

    Obama,Biden,and McCain are going to vote on a bailout plan, why doesn't Palin??? Oh, that's right, she's just a rookie governor with no political experience!!!

    September 30, 2008 11:18 pm at 11:18 pm |
  24. What ever

    Vote Palin!!!!!

    Maybe if Sarah Palin gets in to the white House she can reform government. She will take the useless government members out; keep just enough to run the Country. That would save hundred thousand of $ to help wall street and America.

    September 30, 2008 11:19 pm at 11:19 pm |
  25. Anna

    He has not voted since April?
    That is how seriously he takes his job????

    Whatever, Dan.

    He is using public funding to run a campaign, guy.

    September 30, 2008 11:19 pm at 11:19 pm |
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