Boehner Welcomes FDIC Cap Increase, Says House GOP Proposed It Earlier

House Minority Leader John Boehner (R-Ohio) welcomed the calls by the presidential candidates for an increase in federal insurance for bank accounts, but he said that House Republicans had proposed the measure during earlier bailout talks.

Both John McCain and Barack Obama, seeking more support for the failed bailout package, called on Monday for the Federal Deposit Insurance Corporation (FDIC) to guarantee up to $250,000 in a bank account. Currently, only $100,000 is insured.

Here's Boehner's full statement:

"The presidential candidates' support for increasing the FDIC cap is welcome news. Increasing the FDIC cap is a proposal put on the table by Roy Blunt and House Republicans but ruled out by Democrats during the negotiations that led to yesterday

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