As many of you know, the Financial-bailout package failed in the U.S. House of Representatives yesterday by a vote of 228-to-205.  Due in part to the negative vote, the stock market was down significantly yesterday, and Dow suffered a record fall of 777 points. Now, it remains unclear when the House and Senate will return to consideration of a “Stabilization Bill.”  It is likely that something will be brought forward on Thursday.  However, it is not clear what will actually be included in the bill.

The lack of action by the House of Representatives yesterday leaves us uncertain about what proposals may be presented in the coming days.  Without knowing the specifics of the legislation that may be considered later this week, it is impossible to say how Senator Cochran would vote on such a plan.

Senator Cochran is carefully monitoring our current economic situation.  He believes that if signals continue to show that stability in our economy is not immediately achievable, Mississippians’ retirement plans, mortgages, and ability to pay for college could be in jeopardy. 

Please know that Senator Cochran will continue to consider options that will be in the best interest of the American taxpayer.