Ohio Reps Explain Bailout Opposition
The 228 to 205 defeat of the Bush administration's financial rescue plan came down to a difference in partisan philosophy -- at least that's the case if you accept the reasoning of Sutton and LaTourette.
Sutton, a Democrat, says the plan needs provisions that include jobs and economic stimulus.
Sutton: "Those are also key components to enable those folks to pay for their car loans, and to pay for mortgages.
Republican LaTourette told host Dan Moulthrop that he wanted to give American companies a capital gains tax break for "toxic loans" bought with money invested outside the U.S, which Democrats rejected.
LaTourette: "The last time we did this, Dan, was in 2005, and almost 350 billion dollars came from overseas."
Both representatives said they'll continue talks today. Congress meets again Thursday.
Kymberli Hagelberg, 90.3