CBC Breaks in Favor of Wall Street Bill

The Congressional Black Caucus (CBC), a key group of House Democrats that had been split over the Wall Street package that failed in the House Monday, swung in favor of the package today, as the caucus largely changed its stance and voted in favor of a newer version of the package.

After CBC members were split evenly Monday on whether or not to spend billions to assist collapsing Wall Street firms, 12 of the CBC’s 38 voting members switched their votes to “yes” today as the updated, Senate-passed version of the bill soared through the House by a margin of 263-171.

One of those switched votes–and perhaps the most significant–was cast by CBC Chairwoman Carolyn Cheeks Kilpatrick (D-Mich.), who reportedly had an icy exchange with House Speaker Nancy Pelosi (D-Calif.) on the House floor Monday as the first Wall Street vote approached.

Kilpatrick refused to even look at Pelosi when the Speaker approached her to ask for a “yes” vote Monday, according to a report by Politico.

But Kilpatrick changed her support today to yes, as congressional leaders picked up a total of 58 votes to push the package through the lower chamber and send it to Bush’s desk.

The final vote tally for CBC members was 31 “yes” and 7 “no”–a drastic change from Monday’s tally of 19 “yes” and 19 “no.”

The CBC’s five officers, who had opposed Monday’s package almost unanimously, all five voted “yes” on the newer package today.

As the blame game unfolded following Monday’s 205-228 failure, Republicans blasted Democratic leaders for failing to convince the 95 House Democrats who voted “no.” Today, leaders of both parties fared better in the whip game.