The Senate will convene at 3:00pm and will proceed to morning business.

It is unclear at this point how this week is going to play out with respect to the potential auto bailout.  Press reports indicate that the potential auto legislation would draw the emergency aid from an existing loan program meant to help the automakers build fuel-efficient vehicles. It would likely provide up to $15 billion in loans to the automakers, while at the same time placing various restrictions on the Big 3 to ensure progress is made to ensure viability going forward.  Since no language from the Democrats is available yet, it is impossible at this point to say how the week will play out, but we will keep you posted on that front.

The Policy lunch will be held on Wednesday.