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(单词翻译:双击或拖选)
U.S. congressional leaders have resumed talks on a $700 billion financial rescue package. The difficult talks resumed after the negotiators agreed to consider proposals from House Republicans, whose opposition1 to a White House backed plan had threatened to scuttle2 it. VOA's Deborah Tate reports from Capitol Hill.
President Bush delivers remarks to members of the media outside the Oval Office of the White House, in Washington, 26 Sep 2008
Just hours before the talks resumed, President Bush acknowledged that disagreements remain over aspects of the massive financial rescue plan, but he said there is no disagreement that something substantial must be done.
Speaking to reporters at the White House, Mr. Bush sought to reassure3 financial markets that a deal would be reached to avert4 an economic crisis.
"We will rise to the occasion," he said. "Republicans and Democrats6 will come together and pass a substantial rescue plan."
A White House meeting a day earlier with President Bush, congressional leaders and presidential candidates, Republican John McCain and Democrat5 Barack Obama, failed to reach agreement. After word that a bipartisan agreement in principle had been reached on a plan, House Republicans refused to go along.
That plan would allow the government to take over billions of dollars worth of bad home loans and other mortgage-based assets held by investment firms and banks. Several of the country's largest financial institutions have collapsed7 under the weight of the faulty investments, threatening an even bigger economic crisis.
The plan under consideration would give Treasury8 Secretary Henry Paulson $250 billion immediately to begin buying up bad loans, and $100 billion more after certifying9 that the funds are necessary. An additional $350 billion could be turned over without additional congressional approval, although Congress would have 30 days to object.
The plan would include strong oversight10 of the bailout program and ban excessive compensation for executives at failing firms.
Republican fiscal11 conservatives argue that taxpayer12 funds should not be bailing13 out failed institutions who made bad loans. Public opinion polls show that most Americans agree.
House Republican Leader John Boehner responds to reporters' questions on the status of legislative14 negotiations15 regarding the financial crisis,on Capitol Hill in Washington, 26 Sep 2008
"Our goal here in attempting to come to agreement is to do our best to protect American taxpayers," said Congressman16 John Boehner of Ohio, House Republican leader. "There are a lot of options in terms of how we do that. We are not going to negotiate in front of all of you."
House Republicans refused to take part in negotiations on the rescue plan late Thursday. But Friday, after President Bush called Congressman Boehner and Senator McCain met with the Republican leader, the number two Republican in the House, Congressman Roy Blunt of Missouri, agreed to take part in the latest talks.
Democrats say they will not vote for a package that does not have substantial Republican support. They want Republicans to share any political fallout that may result from passage of a such an expensive rescue plan.
Senate Democratic Majority Leader Harry17 Reid says with help from lawmakers from the other party, a rescue package could be approved by the time financial markets open Monday morning, something the White House has been seeking.
"We could have this done by midnight tonight," he said. "We could start drafting it tomorrow. We could vote on it Sunday or Monday."
In related action, Senate Republicans have blocked a proposal for $56 billion in spending to stimulate18 the faltering19 U.S. economy. The economic stimulus20 package would have extended unemployment benefits, increased food aid to the poor and funded job-creation programs. Republicans have strongly objected to the additional spending, saying it would increase the ballooning federal deficit21 and lead to higher taxes.
1 opposition | |
n.反对,敌对 | |
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2 scuttle | |
v.急赶,疾走,逃避;n.天窗;舷窗 | |
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3 reassure | |
v.使放心,使消除疑虑 | |
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4 avert | |
v.防止,避免;转移(目光、注意力等) | |
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5 democrat | |
n.民主主义者,民主人士;民主党党员 | |
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6 democrats | |
n.民主主义者,民主人士( democrat的名词复数 ) | |
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7 collapsed | |
adj.倒塌的 | |
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8 treasury | |
n.宝库;国库,金库;文库 | |
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9 certifying | |
(尤指书面)证明( certify的现在分词 ); 发证书给…; 证明(某人)患有精神病; 颁发(或授予)专业合格证书 | |
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10 oversight | |
n.勘漏,失察,疏忽 | |
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11 fiscal | |
adj.财政的,会计的,国库的,国库岁入的 | |
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12 taxpayer | |
n.纳税人 | |
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13 bailing | |
(凿井时用吊桶)排水 | |
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14 legislative | |
n.立法机构,立法权;adj.立法的,有立法权的 | |
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15 negotiations | |
协商( negotiation的名词复数 ); 谈判; 完成(难事); 通过 | |
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16 Congressman | |
n.(美)国会议员 | |
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17 harry | |
vt.掠夺,蹂躏,使苦恼 | |
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18 stimulate | |
vt.刺激,使兴奋;激励,使…振奋 | |
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19 faltering | |
犹豫的,支吾的,蹒跚的 | |
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20 stimulus | |
n.刺激,刺激物,促进因素,引起兴奋的事物 | |
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21 deficit | |
n.亏空,亏损;赤字,逆差 | |
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