Thursday, Oct. 2, 2008 | 3:40 p.m.
Sun coverage
- Oct. 2 -- Bailout: Their defining moment
- Oct. 1 -- Minutes after Reid’s speech, bailout gets Senate’s OK
WASHINGTON -- Democratic Rep. Shelley Berkley said she will drop her opposition to the $700 billion bailout bill and vote in favor of the new package when it comes before the House, probably on Friday.
Berkley had been among the coalition of lawmakers who stunned Washington and Wall Street by killing the bill on Monday. The House fell just 12 votes shy of what was needed for passage after progressive Democrats, conservative Republicans -- including Nevada's Rep. Dean Heller -- and moderates in difficult re-election battles voted no.
As the House prepares to try again, Berkley said she was convinced to switch in part because of the extended tax breaks the Senate added onto the bill in passing it Wednesday. The tax provisions include credits for solar energy firms, a continuation of middle class tax breaks and other breaks she said are important to Nevadans.
The Las Vegas congresswoman also said the gravity of the nation's financial problems became clear in the days since Monday's vote.
"I hate this like poison, but I think relief is necessary," Berkley said.
Heller's office has declined to say how he will vote.
Rep. Jon Porter, also a Republican, voted for the bill Monday and is expected to again vote yes when it is returns to the floor.
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