Senate to vote on bailout; pressure remains on House

The offices of U.S. Reps. Steve Pearce and Tom Udall continued to be inundated on Tuesday with phone calls and e-mails from people wanting to weigh in on the proposed $700 billion bailout, with most speaking against the bill the House rejected on Monday.

But it appears that the Senate, not the House, will make the next attempt to pass a bailout package to try to provide aid to the struggling economy. In a surprise move, Senate leaders announced late Tuesday that they’ll vote today on a bailout plan that also includes a number of tax breaks the House rejected last week.

Before that move was announced Tuesday, leaders in both parties were trying to make minor changes to the bailout proposal in an attempt to win about a dozen additional votes in the House to ensure passage. Many said a new House vote could come later this week, but the status of that vote is unclear now that the Senate has scheduled its vote.

Regardless, Udall spokesman Sam Simon said early Tuesday afternoon that, since Monday’s narrow defeat of the proposal, his office had received “600 e-mails and dozens (approaching hundreds) of phone calls,” most of them “opposing the bailout package as it stood” on Monday.

Pearce spokesman Brian Phillips said that, before Monday’s vote, the calls and e-mails were “overwhelmingly against” the bailout — “on the order of 150 or 200 to 1.” Since the vote, he said, “we’re getting a lot more calls supporting the bailout, but it’s still 4-1 against.”

Pearce, the Republican U.S. Senate candidate, and Udall, his Democratic opponent, both voted against the bill. U.S. Rep. Heather Wilson, R-N.M., voted for it. Her office did not respond Tuesday to a request for information on calls and e-mails about the bill.

Neither did the office of U.S. Sen. Pete Domenici, R-N.M., who has said he would have supported the version of the bill the House rejected Monday. A spokeswoman for U.S. Sen. Jeff Bingaman, D-N.M., said Tuesday afternoon — before the Senate scheduled today’s vote — that the number of calls about the bailout bill dropped significantly after Monday’s vote. Bingaman has also said he would have voted for the bill.

During the week prior to the vote, Bingaman spokeswoman Jude McCartin said Tuesday, the senator’s office was receiving about 300 calls a day, “mostly unhappy about the proposal.”

“But many of those callers also said if it was necessary to pass something, they wanted taxpayer protections and no golden parachutes built in,” McCartin said.

Guv, Teague would have voted against bailout bill

Meanwhile, two high-ranking New Mexico politicians added their voices on Tuesday to the bipartisan chorus of people opposing the bailout bill the House rejected on Monday. Gov. Bill Richardson and 2nd Congressional District Democratic candidate Harry Teague said Tuesday at a news conference in Las Cruces that they would have voted with Udall and Pearce to reject the bailout bill.

“With the info I’ve seen, I couldn’t have voted for that,” Teague said, explaining that there weren’t enough guarantees for taxpayers.

“I agree with Harry. I wouldn’t have voted for that bill,” Richardson said, adding that a proposal needs to include assurances that a crisis like the current situation won’t happen again, stronger provisions to ensure bailout money isn’t used for huge CEO payouts, protection for homeowners and more transparency and accountability.

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