Bailout Going Down in House

Time has officially expired on the House vote on the $700 billion financial bailout plan, but the voting is still open. As of now, the plan appears to have been defeated. With only one vote outstanding, the nays are 226 and the yeas 207. This is a stunning defeat for both House Speaker Nancy Pelosi and Minority Leader John Boehner, both of whom supported the plan. Republicans opposed it by a 132-66 margin (with one not voting), while Democrats favored it by a 141-94 count. Technically, members can switch their votes while the vote is still open (this infamously happened in 2003, when G.O.P. leaders kept a Medicare vote open for three hours while they twisted arms and turned an apparent defeat into victory) but the margin seems too wide for that kind of maneuvering now. (So far the yeas have picked up two since the initial tally.)

Live feed is here.

UPDATE: It is now official. The vote has been closed and the plan defeated by a 228-205 margin; two members who initially changed their vote from “no” to “yes” when the time initially expired switched their votes back.