Senate Makes Progress on Economic Stimulus

The Senate this evening approved (by a 80-4 vote) a motion to proceed to debate on the House-passed Economic Stimulus Bill (H.R. 5140).

It can be expected that the Senate will also hold a cloture vote on Wednesday on a substitute "manager's amendment" supported by Finance Committee Chairman Max Baucus. The Baucus Amendment was approved by the Finance Committee last week. If passed, the amendment could include LIHEAP proposals and FHA/Fannie Mae/Freddie Mac mortgage loan limitations. However, it is unknown whether supporters have the needed 60 votes to pass the Baucus substitute. If the cloture vote is adopted on Wednesday, a final vote could take place Friday. Republicans have indicated that they may insist on taking the full 30 hours that Senate rules allow for consideration of debate after cloture.