Watch CBSN Live

RSC To Unveil Alternate Bailout Plan

The conservative Republican Study Committee announced Tuesday morning it will unveil its alternative bailout proposal later in the day, according to an RSC email obtained by Politico.

The group of conservative House Republicans have not been shy in expressing its displeasure with the administration's proposed $700 billion plan to bailout struggling Wall Street firms.

According to the email, the proposal is meant to be a stand-alone bill, thus does not include the revisions to the administration's plan proposed by some RSC members.

The RSC's plan is set to include a two-year suspension of the capitol gains tax, provisions to transform mortgage giants Fannie Mae and Freddie Mac into private entities and efforts to stabilize the dollar.

RSC members will hold a press conference at noon today.

View CBS News In
CBS News App Open
Chrome Safari Continue