US Treasury's Paulson: Resolve bailout differences

Published: 25 Sep 2008 21:05:57 PST

WASHINGTON, Sept 25 - U.S. Treasury Secretary Henry Paulson urged congressional Republicans and Democrats late on Thursday to quickly resolve differences over a $700 billion package to rescue banks from bad assets threatening the U.S. economy, a Treasury spokeswoman said.

"There are still open issues to be resolved, and we are committed to resolving them." Treasury spokeswoman Michele Davis said in a statement distributed by email.

"Secretary Paulson appreciates the hard work by members on both sides of the aisle to address the threat we face to our economy. Noting difficult credit market conditions, he urged members of both parties to complete legislation quickly," Davis added, noting that Treasury staff has been working with Congressional committee staff on the plan since Saturday.