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Congressional Black Caucus Helped Defeat Massive Bailout Bill
   posted 7:09 pm Tue September 30, 2008 - Washington
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The Congressional Black Caucus is traditionally one of the most reliable Democratic voting blocks on Capitol Hill, but in an unlikely alliance yesterday, they joined with conservative Republicans to defeat the massive $700 billion bailout.

Unlike some conservative Republicans who say they are fundamentally against a bailout, most members of the Congressional Black Caucus support doing something, but they revolted and say any future deal must do more to help struggling homeowners.

"All the calls were saying no, don't do this. Take a pause and do what's right by the tax payer,"said Rep. Donna Edwards. Of the 39 members of the Congressional Black Caucus, 21 voted against the bill - one of the larger revolts ever within the caucus.

Like Edwards, they all received hundreds of calls against the bill, all delivering the same message. "There are a lot of people who are hurting, who are tax payers who deserve help," said Josephine Wineglass, who supports a bill if it helps everyone. "Give us all some help, especially the poor and the middle class. We need help," said Larry Bennett, who wants the government to help homeowners.

With more than 6,000 homes being foreclosed on each day, members of the Congressional Black Caucus objected to the lack of a large home owner assistance program for poor and working class people. Before Monday's vote they asked House leaders to set aside 1% of the $700 billion for a home-loan program. The request was reject. But if it is included in a new deal, most Congressional Black Caucus members would be on board.

The risk is if the extra money is included for struggling homeowners, some of the current Republican support might disappear.

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