U.S. Rep. Travis Childers of the 1st Congressional District, a Democrat, in a statement Sunday night stated that he is considering voting against the plan.Voting is going on right now and it looks like the bill will not pass. I will update with the final tally, and how our Mississippi representatives voted. So far the vote is not split among partisan lines with both Democrats and Republicans voting for and against the bill in large numbers.
"The cost of this plan - $700 billion - is a staggering amount of money, and, if passed, this plan will raise the national debt to an unprecedented level and impose an additional $2,300 worth of debt on every man, woman and child in the United States," Childers said in his statement.
Update: The bill failed 228-205. Many of those who voted no indicated that they wanted to do something, just not this. A few more tweaks to this bill should be able to turn enough votes to ensure passage. No word yet on the individual votes by our representatives.
Update 2: According to Nate at FiveThirtyEight the no vote came from congressmen facing a tough reelection. Of the 38 incumbent congressmen in a race rated toss-up or leaning, 30 voted against the bailout bill. Of the remaining congressman 197 supported it, while 198 voted against it. The public sentiment has not fully gelled into a mandate for action for congress. Many people from both the left and the right were vehemently opposed to this bailout plan. As Nate suggests, the more banks fail and the lower the Dow Jones drops, the more likely a bailout will happen soon.
Update 3: Thanks to commenter Irene for the information. Childers, Thompson and Taylor voted against the bill, while Pickering voted for it.
Childers, Taylor, and Thompson voted against it. Pickering voted for it.
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