September 29, 2008 House GOP leaders supportive of bailout bill Play video

(NECN) - House GOP leaders say they support the $700 billion bailout for the financial industry and will try to get fellow Republicans to back it.

Rep. John Boehner, R-Ohio, says that his colleagues acknowledge how the American people are angry, but adds that they are also angry with the situation they are now in. "Nobody wants to have to support this bill," said Rep. John A. Boehner, R-Ohio, the minority leader. But, he added, "I'm encouraging every member whose conscience will allow them to support this."

Boehner says that when the GOP stood up and blocked the deal last week, it was because they "didn't think the taxpayers were being protected". However he says that over the last three days they have crafted a final product, where "at the end of the day there are no taxpayer risks".

DRAFT LEGISLATIVE TEXT OF CHAIRMAN DODD'S PROPOSAL FOR THE TREASURY DEPARTMENT'S ECONOMIC PLAN