Out of Control Policy Blog

House passes bailout in landslide

The House voted 263-171 to pass the $700 bailout plan this afternoon.

Here's the story from CNN:

The House of Representatives on Friday approved by a wide margin the $700 billion economic bailout that sailed through the Senate earlier in the week.

House Minority Whip Roy Blunt, R-Missouri, makes calls on the economic bailout on Friday.

The measure passed by 92 votes, 263 to 171, with the plan picking up support on both sides of the aisle after going down to defeat in the House on Monday.

At least 20 House members said Friday they had switched positions.

Among the 20 converts was Rep. Jesse Jackson Jr., D-Illinois, his chief of staff, Kenneth Edmonds, said.

Edmonds said Jackson was changing his vote because "he received assurances from (Sen. Barack Obama) that, if elected, his administration will aggressively use authority in the bill to prevent foreclosures and stabilize the housing market."

Rep. Howard Coble, R-North Carolina, said he plans to switch his vote because constituents began urging him to do so. He said the people he represents initially urged him to oppose the plan.

"By having waited, I think we did improve the bill," he said. "Inaction is not an option.'

Anthony Randazzo is Director of Economic Research


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