Harry Reid said this morning that the Senate may vote as early as tonight on legislation to bail out the Big 3:
Majority Leader Harry Reid (D-Nev.) expressed optimism Tuesday morning that votes on an automotive rescue plan could come as early as tonight or sometime Wednesday as Congressional Democrats and the White House try to work through the details of a deal.
But that was before word that a Republican Senator may block the measure from coming to the floor through a ‘hold:’
A $15 billion auto industry bailout bill could be derailed in the Senate, where at least one Republican has vowed to place a hold on the legislation, a move that could kill the prospects of passage this week.
A Republican Senator, speaking on the condition of anonymity, said that short of significant changes to the deal, he would place a hold on the legislation.
“It only takes one of us, and as it currently stands I’m prepared to hold it. Some major changes need to happen to that bill before it can go through,” the lawmaker said…
“If you want a bill to pass, you don’t bring a bill that was only written by the Democrats. We weren’t at the White House. In the House you don’t need to [direct participation of lawmakers], in the Senate you do. I have to represent what I think is right and what is good for my constituents,” the lawmaker said.
Mitch McConnell also took to the Senate floor today to express his objections to the approach taken by Senate Democrats:
“Any successful proposal would force companies to reform, either inside of bankruptcy or outside of bankruptcy. Without that mandate, there can be no real expectation of reform.
“A good proposal would force automakers to get control of their benefit costs.
“A good proposal would make wages at struggling companies competitive with other automakers — not tomorrow, but today.
“A good proposal would end the practice of paying workers who don’t work.
“And a good proposal would rationalize dealer networks. Just as struggling airlines adjust their capacity to respond to market conditions, automakers must respond to market demands as well.
If this legislation is held up beyond this week, it may be impossible for the Senate to act before one or more of the Big 3 runs out of money.
Moe Lane
Steve Maley
Dan McLaughlin
Neil Stevens
Daniel Horowitz
This is why we love Jeff Sessions!!!!
E Pluribus Unum (Diary) Tuesday, December 9th at 2:31PM EST (link)Because that’s who I think it was. IF it were DeMint or Coburn, that person would have just said, “That’s right, punk. I put on the hold”. Sessions is cut from the same cloth, but with a little less of the in-your-face persona.
Kill the Terrorists
Protect the Borders
Punch the Hippies h/t IMAO
This is the last major leverage the GOP is going to have for a long time. I wish they would use it.
red_oakster (Diary) Tuesday, December 9th at 2:39PM EST (link)Bush missed the boat earlier this year on the stimulus package and it looks like they are missing the boat now.
Ask for something big. The two month tax holiday would be great, but a PERMANENT tax cut would be much better. Make the Democrats pay up to save their union buddies. Permanent cuts on cap gains or dividends or permanent repeal of the death tax. Or taxing all IRA withdrawals at a flat rate of 15%.
Come on ladies and gentlemen of the Senate GOP caucus, the time has never been better to make the other guys’ pips squeak.
I could disagree more. I just don't quite know how.
mbecker908 (Diary) Tuesday, December 9th at 2:46PM EST (link)Not interested in a tax holiday. If we’re going to throw money at the B3, I want MAJOR concessions up front – and permanent not temporary – from the UAW.
That would include a major pay cut, major cost sharing of benefits cost across the board and a big modification in their legacy arrangement. That goes double for their salried work force.
And, I’d like to see every corporate officer have to cosign the loan with a clause in the agreement that the obligation is not dischargable in bankruptcy.
there is no deal on the bailout terms themselves that will make sense from a conservative perspective. But
red_oakster (Diary) Tuesday, December 9th at 3:04PM EST (link)if we get something that permanently improves our freedom, that’s worth grabbing.
As to co-signed loans, and a true bankruptcy workout, the Dems and the UAW will never agree to it.
just the opposite Red
kyle8 (Diary) Tuesday, December 9th at 2:56PM EST (link)If the GOP wants the score points they should try to put through a resolution saying that any Auto bailout has to be funded in some way, either through HIGHER taxes or cuts somewhere else.
That would put the Democrats in a tight spot.
“Nothing works like freedom, Nothing succeeds like liberty”
Kyle
yeah, the GOP should come out for raising taxes
red_oakster (Diary) Tuesday, December 9th at 3:05PM EST (link)that’s the ticket
I think Kyle's point is to hit the Dems on PAY-GO
bk (Diary) Tuesday, December 9th at 3:43PM EST (link)How many times during the campaign did he promise to reinstitute PAY-GO? Calling the Dems bluff on that might not be a bad idea.
Ugh
exitsfunnel Tuesday, December 9th at 4:58PM EST (link)It’s probably too much to hope for but it would be nice if there were a Republican somewhere whose first instinct was to try to cut spending rather than just taxes, taxes, taxes (because deficits don’t matter).
-exits
How to make a liberal's head explode
renegade Tuesday, December 9th at 2:47PM EST (link)A great way to see liberal exploding heads woulkd be to have the CEOs of Toyota and Honda make a public statement saying that their companies would lease out or purchase the factories in Michigan in the event the big 3 auto makers declare bankutpcy.
Chris Mathews would be the first to pop.
I demand this GOP Senator stop hiding behind anonymity NOW!
General_Confusion (Diary) Tuesday, December 9th at 2:50PM EST (link)I need to know so I can contribute to for their reelection campaign.
"We seek him here, we seek him there,"
Moe Lane (Diary) Tuesday, December 9th at 3:12PM EST (link)“Those Frenchies seek him everywhere.
Is he in heaven?—Is he in hell?
That demmed, elusive Pimpernel.”
The Kim Kardashian of blogging.
Check out my blog at http://moelane.com/.
http://moelane.com/filthy-lucre-filthy-lucre/
http://twitter.com/moelane
My (combined) wish list.
My guess, based on his earlier comments,
TxCon (Diary) Tuesday, December 9th at 2:59PM EST (link)is that is Senator Shelby
I think that it's Corker
exitsfunnel Tuesday, December 9th at 4:56PM EST (link)That would be my guess, at least based on the hearings where he was really great. Whoever it is, hopefully he’s not bluffing.
-exits
Good.
Darin_H (Diary) Tuesday, December 9th at 3:03PM EST (link)No free ride for the UAW.
A visionary coward says that anger can be power, as long as there’s a victim on TV – Flat Top, Goo Goo Dolls
It 'aint McCain...
Hammer2008 (Diary) Tuesday, December 9th at 4:16PM EST (link)that’s for sure (it doesn’t contain any ‘earmarks’, teh). It’d be nice if it were Sen. Saxby Chambliss in a sort of thank you to those on the right that saved him.
~~~~~~~~~~~~
Too much noise! “Noise! You’ll have noise enough before long. The Regulars are coming out.” ~ Paul Revere (April 18th, 1775′s eve…)
While I'm all for a solution, I have to laugh
Flagstaff (Diary) Tuesday, December 9th at 5:04PM EST (link)at McConnell’s statement of demands.
“Any successful proposal would force companies to reform, either inside of bankruptcy or outside of bankruptcy. Without that mandate, there can be no real expectation of reform.”
Does he really think there has been no attempt to ‘reform’? Does he know just what would constitute the ‘right’ reform?
“A good proposal would force automakers to get control of their benefit costs.”
And they haven’t be been trying to do that already? Should they follow the Social Security pattern as provided by the US Government?
“A good proposal would make wages at struggling companies competitive with other automakers — not tomorrow, but today.”
Tell it to the unions. Some say they aren’t that different, already.
“A good proposal would end the practice of paying workers who don’t work.”
Good idea. How about some legislation to allow the abrogation of the contract that provides for it.
“And a good proposal would rationalize dealer networks. Just as struggling airlines adjust their capacity to respond to market conditions, automakers must respond to market demands as well.”
If a dealer doesn’t sell cars, he goes OOB. That takes care of that problem.
Does no one recognize that demand turned on a dime with rapidly rising gas prices and nightly hand-wringing on TV news? No major industry could possibly adjust that fast, and it’s just as well, because gas is now lower than it was and there is at least hope that inventories can be sold.
What industries are hurting the worst right now? The two that provide the highest-cost products to buyers, CARS and CONSTRUCTION. One is centralized, one is distributed, but both usually require financing. Both purchases also require confidence that one’s job will be there tomorrow and for many tomorrows thereafter. Therefore, both are the first hit and the hardest hit during a time of low confidence, and it doesn’t help confidence at all to hear Congressional “leaders” spouting off about what somebody else should do to solve a problem which was in several respects caused by Congress.
“The press is so powerful in its image-making role that it can make a criminal look like he’s the victim and make the victim look like he’s the criminal. If you aren’t careful, the newspapers will have you hating the people who are being oppressed and loving the people who are doing the oppressing.”– Malcolm X, Audubon Ballroom, December 13, 1964