Dems Must Consider GOP Plan to Gain Support, Boehner Says

A large majority of House Republicans cannot and will not support Treasury Secretary Henry Paulson’s plan unless House Democrats give Republicans’ proposals “serious consideration,” House Minority Leader John Boehner (R-Ohio) wrote in a letter to House Speaker Nancy Pelosi (D-Calif.) Friday.

Boehner said that previous negotiations had failed to take into account House Republicans’ views without addressing Boehner’s concerns. “Chairman Frank and Chairman Dodd…announced that a bipartisan deal was at hand even though the reservations about the underlying proposal I had expressed to you had not been addressed,” Boehner wrote.

Though the GOP leader indicated his caucus is prepared to stay in Washington to work on an agreement, but asked Pelosi to give consideration to their counterproposal, which focuses on insuring toxic assets and raising private capital instead of using government funds. Boehner has asked Rep. Eric Cantor (R-Va.) to convene a “working group” within the Republican caucus to refine the proposal.

“We owe it to all those with a stake in this process to continue our discussions until we arrive at an agreement that is acceptable on both sides of the aisle,” Boehner wrote to Pelosi. “That is why I ask you and your Democratic colleagues to give the House Republican working group