Senators To Announce Bailout Compromise!

Here we go again. We’re told to expect a Capitol Hill press conference in a couple of hours announcing a compromise bailout bill. No word on whether they have enough support on the Hill to get it done, though.

Update: The money is reportedly going to come from the already $25 billion appropriated for green tech improvements. Basically, the idea is to strip out all the environmentalist requirements and let them have the money unencumbered.

Update: House and Senate leadership say “No Way!”

From Reuters:

Three U.S. senators were still working on a bipartisan bill to assist the automotive industry and hoped to reach a deal, a Democratic Senate aide told Reuters on Thursday.

“They’re working on a bipartisan bill and hoping to reach an agreement soon,” the aide said.

But chances of passing legislation were slipping away quickly, said other aides.

The three involved in discussions are Michigan Democrat Carl Levin, Missouri Republican Christopher Bond and Ohio Republican George Voinovich, the aide said.

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