Senate Democrats

Reid: Senate Will Move Forward To Stabilize The Economy And Create Jobs

Washington, DC— Senate Majority Leader Harry Reid tonight announced a unanimous consent agreement to move forward on legislation to stabilize the economy, provide middle class tax relief, create jobs, and invest in alternative energy. Tomorrow evening, the Senate will vote on a package consisting of the Emergency Economic Stabilization Act of 2008, Senate-passed tax extenders, and an increase in federal coverage of bank deposits to $250,000.

“Senate Democrats and Republicans believe it is essential that we work quickly on this important legislation to restore confidence to our financial system and strengthen the economy,” Reid said. “We have worked in a bi-partisan way to do so, and it is my hope that with the improvements we have made to the Administration’s proposal, the Senate will pass this legislation tomorrow and the House of Representatives will follow suit soon thereafter. I believe that this legislative package will ensure that the needs of Main Street are not forgotten.”

Senate Democrats and Republicans also agreed to vote on final passage of the Federal Rail Safety Improvement Act and final passage of the United States-India Nuclear Cooperation Approval and Nonproliferation Enhancement Act.