September 28, 2008 / 6:02 PM / 9 years ago

U.S. Senate vote Wed. at earliest on bailout-sources

WASHINGTON, Sept 28 (Reuters) - Legislation providing up to $700 billion to bail out the U.S. financial industry will be voted on in the U.S. Senate no earlier than Wednesday, sources close to the discussions said on Sunday.

The House of Representatives will vote on the bill on Monday, said House Financial Services Chairman Barney Frank, a Massachusetts Democrat.

But the Senate faces more complex problems in passing legislation. Before bills get to the floor, leaders must determine whether any senator is considering procedural hurdles to slow down action. And a Jewish holiday that starts at sundown on Monday will put off any Senate work through Tuesday.

“The earliest the Senate could get to it is Wednesday,” said one source, who asked not to be identified, while a Democratic Party source said procedural moves would be made to clear the way for a vote on Wednesday.

Reporting by Richard Cowan and Thomas Ferraro

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