Rep. Welch bucks Democratic leadership on bailout

Tuesday, September 30. 2008

MONTPELIER (AP) — Ever since House Speaker Nancy Pelosi appointed him to the powerful House Rules Committee on his arrival in Washington — a rare plum for a freshman — U.S. Rep. Pater Welch has been seen as closely allied with Democratic congressional leaders.

But he bucked them Monday — big time.

Welch, D-Vt., was one of 228 members of the House on the winning side in a vote to reject the $700 billion financial rescue plan developed by Bush administration officials and at least partially retooled by congressional Democrats to make it more palatable to middle-class Americans.

"He was listening to his mail, his e-mail messages, his phone calls, and the overwhelming sentiment he was getting from his constituents was to vote no," said Garrison Nelson, a political science professor at the University of Vermont.

Welch, meanwhile, called Monday's a "vote of conscience."

"I think we can do better," he said. "We had to work with the Paulson plan," put forward by Treasury Secretary Henry Paulson.

"Barney Frank made a bad plan better," he said in reference to the Massachusetts Democrat who chairs the House Financial Services Committee. "But now it's time to do something more effective to loosen up the credit markets without putting taxpayers at so much at risk."

Eric Davis, a political scientist and retired Middlebury College professor, noted that 205 House members voted to support the financial rescue. If it or something similar comes up for another vote later this week, the House leadership will be looking to switch "about 12 or 13 votes," he said.

"I would expect that Peter Welch is right toward the top of that list, as far as vote-switching goes," Davis said. He said he wouldn't be surprised if Pelosi threatened not to reappoint Welch to the Rules Committee if he doesn't switch to support the bailout.

"This is a very surprising vote" by Welch, Davis said. "First of all, because he's very close with the leadership, but more importantly, because he faces no serious re-election challenge."

Davis said he had just heard a radio interview in which Rep. Jim Marshall, D-Ga., had said his vote in support of the rescue plan might cost him the election. But he said Welch, who won both the Republican and Democratic nominations in this year's election for Vermont's lone House seat, faced no such fear.

Welch said he believes legislation can be drafted to address the financial crisis without risking $700 billion or more in public funds. "We have a very serious economic issue. My goal is to get something that is going to revitalize our economy without adding crippling debt onto the credit cards of American taxpayers."

He doesn't expect recriminations. Pelosi knew it was a "jump ball" whether the rescue plan was worth supporting, said Welch.

"I think the focus is going to be getting a better plan and moving ahead," he said. "It's not about political hardball. It's about getting a good policy passed and doing it promptly."