CNN Senior Congressional Correspondent
Senate Majority Leader Harry Reid announced tonight they will vote Thursday on the resolution of disapproval for releasing the remaining 350 billion dollars of the bailout fund.
A senior Democratic leadership aide says they are hopful, but admits to CNN that they are still not sure they have the votes to give President-elect Barack Obama the money he argues is essential to fixing the economy.
So, why are Democratic leaders holding the vote without knowing how it will go?
"The longer this thing hangs out there, the more water it takes on," said the Democratic leadership aide.
The decision to hold a Thursday vote comes hours after the President-elect's top aides held an urgent closed door meeting with Republican senators urging them to support giving them remaining bailout money.
But most Republican senators emerged from the meeting saying their minds were not changed and they still were unlikely to support this.
As CNN reported earlier in the day, multiple GOP senators who voted for the program in the fall, no longer support it.
So the challenge still for Mr. Obama is convincing enough of his fellow Democrats, many of whom still tell CNN they are very skeptical.
This disapproval resolution is not allowed to be filibustered, so it only needs a simple majority, 51 votes, to be defeated.
If it is defeated in the Senate, the request will automatically go through, since the law says both houses of Congress must pass disapproval measures to stop the bailout funds from being released.
It is likely this vote will not occur until after 5pm, after the markets close. But the timing is still fluid.
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