October 2, 2008 - 14:37
News: Oregon

OR-3: Could Senate bailout bill provisions entice Blumenauer?

The Wall Street bailout bill passed Wednesday night in the Senate included a provision that may be trying to entice Rep. Earl Blumenauer (D-Portland) to change his vote to support the bill, the radio show Democracy Now: The War and Peace Report said Thursday Morning.

The show's anchor, Amy Goodman, reported that the Senate’s version of the bill, which called for $850 billion of taxpayer dollars to bail out Wall Street financial institutions, would cost $150 billion more than a House version of the bill that failed on Monday. The extra money, she said, was added for ad-ons that appeared to be geared toward certain House members in an effort to get them to change their votes.

“Some of the changes appear to be aimed at enticing specific lawmakers to change their votes from a no to a yes,” Goodman said. “For example, the bill now includes provisions to boost insurance coverage for mental illness, a priority for Minnesota Republican Jim Ramsted (R-Minn.), who voted against the bill Monday. It also includes a tax benefit for bicycle commuters sought by Oregon Democrat Earl Blumenauer (D-Portland).”

Blumenauer voted against the House version of the bill Monday. His spokeswoman Lucia Graves affirmed that the newest legislation included the bicycling tax break provision, but was quick to say that the inclusion of the bicycling tax break would not be the deciding factor when Blumenauer weighed his vote for the $850 billion measure.

“He is going to look at the legislation as a whole,” Graves said.

Goodman said that Congress only needed to sway a dozen votes to pass the bailout legislation. She then interviewed Nobel-prize winning economist Joseph Stiglitz, who said that it the bill was better than nothing but was disappointed that the bill had to include so many additions.

“They added $150 billion in tax benefits. Some of these are really kind of amazing, the kind of things they put in,” Stiglitz said referring to other provisions, including tax breaks for American Samoan businesses, and tax breaks for motor sports racetracks. “What they did was basically old fashioned bribery.”

Graves said it was possible that Blumenauer would be announcing whether he would vote for or against the Senate’s version of the bailout package later in the day Thursday.

Listen to the show here. The reference to Blumenauer is approximately 11 minutes in. 

Britten Chase is a PolitickerOR.com Reporter and can be reached via email at noreply@politicker.com.

Comments

Post new comment

  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <p> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd> <br>
  • Lines and paragraphs break automatically.

More information about formatting options

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
5 + 3 =
Solve this simple math problem and enter the result. E.g. for 1+3, enter 4.