Obama Heading To The Hill Tomorrow
Barack Obama will head to the Hill tomorrow for perhaps the final time before he takes the oath of office.
The president-elect will be attending the Senate's weekly Democratic caucus meeting on Tuesday, a Senate aide tells Huffington Post. A transition official confirmed the Tuesday plans and said that Obama is expected to discuss the makeup of an economic stimulus package and the Troubled Asset Relief Program, among a host of other topics.
Reflecting his post-partisan demeanor, Obama will be meeting with the Republican Senate conference sometime after he becomes president, the official confirms.
Obama's economic advisers have been working with legislators on the Hill for much of the last week in efforts to grease the wheels on the construction of an economic stimulus package. The president-elect himself has also been in consultation with members of Congress. Tomorrow's visit, however, comes after Obama -- through the Bush administration -- requested that the Treasury Department release the second $350 billion tranche of TARP money.
The Obama team has the political power to secure the funds without Congress' approval - the House and Senate can vote against the release of the money but the president can veto that disapproval. Unless Congress can override his veto, the funds would be released. Nevertheless, Obama will have to use a bit of legislative finesse to assuage concerns about the programs' lack of transparency and the direction of its funds.
House Financial Services Committee Chairman Barney Frank has said he would sign off on the money if Obama gave "his word" that he would implement major portions of his legislation, according to a House Democratic aide.
The Senate seems destined to move a bit slower. As Jim Manley, a spokesman for Majority leader Harry Reid, told the Huffington Post: "As you're about to find out, the Senate is not the House. We're going to have to rely on [Obama's] assurances to some extent."
Loading comments…
January 12, 2009 07:22 PM