CNN Congressional Producer
If Treasury Secretary Paulson wants to draw down the second $350 billion, the TARP law requires that Congress be notified within three days. It then has the ability to offer a resolution of disapproval to block the money.
The resolution would have to get a majority in the House and Senate. The President could veto it – if that happens, Congress would need 2/3 majority vote to override the veto.
On December 3rd, an aide to House GOP Leader John Boehner says Boehner talked to Paulson and that “Boehner told him the votes weren't there on the Republican side to get the second installment so basically they would have to rely on Democrats for support.”
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