LaTourette Offers Amendment to Decrease Initial Bailout to $250 Billion
Rep. Steven LaTourette (R-Ohio) filed an amendment with the House Rules Committee late Thursday, seeking to alter some key elements and drastically decrease the up-front cost of the bailout legislation passed Thursday by the U.S. Senate.
As with the Senate bill, the amendment would subject installments paid to the Treasury Department to greater congressional oversight, granting an initial $250 billion to the Treasury to buy toxic assets, but then requiring Congress to convene in November to approve any additional funding.
LaTourette, who voted against the assistance package in Monday
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