Skip to content

Shadegg Says He Might Support Bailout

Rep. John Shadegg (R-Ariz.) signaled Wednesday that changes being discussed for the Wall Street bailout could prompt him to change his vote and support it.

Shadegg, interviewed on Arizona radio station KTAR, said raising the FDIC insurance cap from $100,000 to $250,000 and suspending the SEC’s mark-to-market accounting rules would likely win his vote. “If they make both of those changes, I’d be inclined to vote for the bill, assuming there have not been any bad things added to it,” he said.

The switch would be a major boost for Republican leaders — Shadegg is a former chairman of the Republican Study Committee, the conservative wing of the conference that helped sink the bill on Monday when 81 of its 106 members voted against it.

In the interview, Shadegg said he is “highly optimistic” the package will pass on its second try this week.

Recent Stories

Reconciliation debate to test ‘tax cuts for the rich’ narrative

GOP eyes compromise ‘SALT’ cap in low-to-mid five figures

Cabinet confirmation hearings dominate agenda as immigration bills move along

Welcome back, and farewell, Carter — Congressional Hits and Misses

Supreme Court sounds ready to back TikTok ban law

As California fires rage, so does what could be final Trump-Biden battle