Washington, DC—Senate Majority Leader Harry Reid made the following statement today after House Republicans blocked the Emergency Economic Stabilization Act of 2008:
“Democrats are doing our part to improve the Administration’s flawed plan, but we will need the support of more Republicans to get this done. We are disappointed that Republicans did not live up to their commitment and did not deliver more votes for the President’s proposal – especially after we worked so hard on a bipartisan basis to improve it and produced a bill that further prevents a serious economic crisis, brings much-needed oversight and transparency, protects taxpayers and strengthens the middle class.
“With the stock market recording its largest point drop ever in the aftermath of this vote, it has never been more clear how important it is to put politics aside and come together to stabilize our economy for all Americans. I hope House Republicans will reconsider their vote and decide to put country first.”