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Republican senator sees enactment of bailout deal

Thu Sep 25, 2008 1:16pm EDT

WASHINGTON, Sept 25 (Reuters) - U.S. lawmakers have reached basic agreement on a Wall Street bailout bill that can pass Congress and be signed into law by President George W. Bush, a senior Republican senator said on Thursday.

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"We now expect that we will have a plan that can pass the House, pass the Senate and be signed by the president," Sen. Robert Bennett of Utah said following a meeting of lawmakers negotiating the bailout package.

Lawmakers declined to provide details of the package, but it is expected to include limits on executive pay and strong oversight provisions.

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