Open thread: Senate bailoutmania! Update: Bailout passes, 75-24

The vote’s set for 7:30 ET on C-SPAN, assuming the windbaggery on the floor is finished by then. It should pass with 70+ votes, three of which will come from McCain, Obama, and Biden. Will it pass the House on Friday? All signs point to … no:

House Majority Leader Steny Hoyer said Wednesday he was “personally disappointed” that the Senate added a package of tax breaks to the bailout bill.

However, Hoyer said he had spoken to House Minority Whip Roy Blunt “four or five” times on Wednesday and expressed hope that they could come to an agreement on the bill.

Tapper delved into this a bit further earlier today:

While the Senate will pass its version of the rescue bill with more than 70 votes, according to Senate sources, Senators have taken the partisan bickering over the rescue bill and added a stalled disagreement over a separate issue — “tax extenders,” or extending various tax relief provisions that are due to expire — into the mix…

But some conservative Democrats have expressed serious concerns about the fact that extending these tax cuts is not being paid for in the budget. Adding the provision may attract House Republicans, but it could alienate these fiscally-conscious Democrats, causing them to abandon the 140 House Democrats who voted for the bill to join the 95 who voted against it…

The implication: not only will Boehner need to provide the entire 13-vote margin that the bill lost by on Monday, but also that the addition of the unpaid-for “tax extenders” could cause up to 17 Democrats who voted for the bill Monday to walk. If not more.

Will the Senate bill clear the House? Will the economy be rescued? Will your humble correspondent succeed in his reckless gambit to hold onto his retirement portfolio until the bailout passes and the market spikes, whereupon he’ll duly unload his shares before the S&P inevitably tanks? Tune in tonight for episode one!

Update: The bailout clears its first hurdle, 75-24, and an anxious blogger lowers the revolver pressed to his temple. Tomorrow night: Russian roulette, as Palin takes the stage against Biden and the House tries to choke down this fat, greasy piece of pork. If it doesn’t? Expect Pelosi to come back with a third iteration of the bill even less palatable to conservatives than this one was. Something’s going to pass soon; we might as well get the best deal we can.

Check here soon for the roll of glory reluctance!

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Jazz Shaw 8:01 PM on December 06, 2022