The Senate will convene at 11:00am today and proceed to a period of morning business until 12:00pm. Following morning business, the Senate will resume consideration of the House message to accompany H.R. 2095, the Federal Rail Safety Improvement Act. At 12:30pm, the Senate will proceed to a vote on the motion to invoke cloture on the motion to concur in the House amendment to the Senate amendment to H.R. 2095.  Additional votes are possible during today’s session.

Negotiators announced that they have a deal on a financial rescue package. The Emergency Economic Stabilization Act provides the Treasury Secretary with up to $700 billion to purchase mortgage-related securities in market-based transactions. It includes important taxpayer protections, restrictions on executive compensation for participating institutions, and comprehensive oversight to ensure the program functions as intended.  It will also help struggling homeowners by increasing refinancing opportunities.

You can find the current legislative language of the Economic Rescue Plan at http://www.rules.house.gov/

The vote on the package could come as early as today, but that remains unclear at this time.

Another issue that the Majority Leader has said he would like to finish before we go out is the India Nuclear agreement.