GOP lawmakers push GOP plan to block bailout for Wall Street

Republicans in Congress have proposed blocking the government’s $787 billion bailout of the financial industry.

The Wall Street Journal reports that GOP leaders are expected to vote Wednesday to pass the measure, which they hope will lead to a new round of Wall Street bailouts.

But a spokesman for House Speaker John Boehner, R-Ohio, told the Journal the legislation would not “create a path to the next round of financial bailouts, which would be a disaster for Americans.”

GOP lawmakers are expected in the House on Thursday to vote on legislation that would block the bailout.

The House passed a bill last week that would delay the federal bailout of financial firms until March 2020.

But House Democrats, including Rep. Nancy Pelosi, D-Calif., said the legislation should be delayed until the bill can be debated.

The bill would also limit the size of the bailout, requiring a 90-day delay for each company.

Democrats are pushing for a bipartisan bill to extend the program, which expired on Sept. 30, 2020.

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