CRI听力：US House of Representatives begins new debate on bank bailout bill

US House of Representatives begins new debate on bank bailout bill

The US House of Representatives is debating on the 700 billion dollar financial rescue plan, and is scheduled to vote for a second time on the package on Friday.

The debate came after the Senate approved the bill on Wednesday night.

But the House remains divided as President Bush and congressional leaders lobby furiously for the dozen or so supporters they need to approve the bill.

Democratic Representative Sam Farr acknowledged voters were angry but urged them not to be irate at Congress for trying to deal with the economic crisis.

"We wrote an entirely new bill, the contents of which are on every member's website, that provides relief with checks and balances, oversight for taxpayer safeguards. It addresses obscene salaries and abusive golden parachutes. It is not a perfect bill but it is a responsible bill"

Republican Congressman Joe Wilson also urged the representatives to act.

"It is clear that the price of doing nothing far exceeds the price of what we are considering."

But Representative Marcy Kaptur told the House that she plans to vote 'no'.

“I urge caution to my colleagues. We need regular order, not panic. We want the right deal, not a fast deal. ”

The House's voted down the bill on Monday.

President Bush has called the bill the "best chance" to combat the widening credit crunch.

The president Bush is seeking to up the pressure on the lawmakers who voted 'no' on Monday. He said the credit freeze has put jobs and families' livelihoods in jeopardy.

"A lot of people are watching the House of Representatives now to determine whether or not they will be able to act positively."

The much-maligned measure was returned to the House after the Senate approved it overwhelmingly with tax cuts and other sweeteners.

The rescue package would let the government spend billions of dollars to buy bad mortgage-related securities and other devalued assets held by troubled financial institutions.