The Bush administration and key lawmakers regrouped on Tuesday and vowed to push ahead on the proposed $700 billion financial bailout plan defeated by the House a day earlier, CNN reported.
їUnfortunately, the measure was defeated by a narrow margin,ї President Bush said in a brief televised address at the White House. їIїm disappointed by the outcome, but I assure our citizens, and citizens around the world, that this is not the end of the legislative process.ї
Bush said he expects lawmakers to move forward with legislation. The House is adjourned for the Jewish holiday Rosh Hashanah and is not scheduled to return to session until Thursday at noon. The Senate is in session on Tuesday.