U.S. Rep. Jim Gerlach, R-Pa., who represents Lower Merion, northern Chester County, Norristown, and the rest of the scattered 6th PA Congressional District, is ready to reverse himself and support the bank bailout bill after hearing from execs at Liberty Property Trust, Roy F. Weston engineers, and other local businesses who want the bailout to pass, Bloomberg News reports here.
NEW: "I'm going to take a long look at this bill when the House reconvenes this evening" and see if the Senate has improved enough on the version he opposed, Gerlach said in a statement while on his way to Washington.
"We need to get the best possible deal for the taxpayers. Ultimately, my decision will hinge on the substance of the bill." Gerlach's staff said that, by noon today, 496 callers opposed the bailout, and 556 were in favor.