A $700 billion bailout package has failed in Congress.
The measure designed to help the nation avoid a credit crisis fell about 12 votes short of what was needed to pass the U.S. House on Monday afternoon. Wisconsin Congressman Ron Kind (D-WI) says it was not a big surprise that the needed votes weren't there, since many lawmakers who had constituents at home who are against the plan.
Kind says it's unfortunate because action needs to be taken quickly to help the economy.
Kind says Democrats did their part, but Republicans didn't provide the support needed to pass the measure. He says they only delivered 65 votes, after promising up to 90.
The Wisconsin Democrat says the next step will be to find what should be added or changed in the bill to rally the support it needs to pass. Kind expects swift action on that plan in the next 24 to 48 hours.
Representatives Kind, Dave Obey (D-WI) Tammy Baldwin (D-WI), Gwen Moore (D-WI), and Paul Ryan (R-WI) voted for the measure, while Congressmen Steve Kagen (D-WI), Tom Petri (R-WI), and Jim Sensenbrenner (R-WI) voted against the bailout bill.
AUDIO: Andrew Beckett reports (MP3 :55)
