Published 1/12/2009
by Carrie Dann
at First Read
From NBC's Mike Viqueira Today's post-press conference news from the White House is that Barack Obama has asked President Bush to access the second $350 billion allocated under the Troubled Asset Relief Program.
The original TARP legislation allows for that request, but wary lawmakers also included language in the original bill that allows Congress to deny the authorization. If Congress receives the formal notification today, the House has six calendar days to weigh in. That means that, if the request comes today, then the House would have to act by Sunday, making it very likely that they would act by the end of this work week.
The entire Congress has 15 calendar days to act. ...( read more )
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