House Minority Leader John Boehner sent Speaker Nancy Pelosi a letter this morning asking for Democrats' consideration of a "package of ideas" offered by House Republicans. One major difference between their plan and the one offered by the administration is that the government would no longer be buying the securities and assets, banks and investors would.

House Republicans are prepared to stay in Washington to forge an agreement on a proposal that reflects the core free-market, pro-taxpayer principles of our Party. With that in mind, earlier this week, with your knowledge, I directed our Chief Deputy Whip Eric Cantor (R-VA) to lead a working group of House Republicans to develop a package of ideas to move this process forward.

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If such consideration is not given, a large majority of Republicans cannot -- and will not -- support Sec. Paulson's plan. In the interest of the men and women we represent in Congress, I hope it does not come to that conclusion. I look forward to your timely response and to continuing our work together on an economic rescue package worthy of all of our support.

Click here for full text of the letter and the principles of the House GOP's plan.