Jesse Jackson Jr. Negotiating a Plea Deal, Could Face Jail Time

DENVER - AUGUST 25: U.S. Rep. Jesse Jackson Jr. (D-IL) speaks during day one of the Democratic National Convention (DNC) at the Pepsi Center August 25, 2008 in Denver, Colorado. The DNC, where U.S. Sen. Barack Obama (D-IL) will be officially nominated as the Democratic candidate for U.S. president, starts today and finishes August 28th. (Photo by Chip Somodevilla/Getty Images) Photo: Chip Somodevilla/2008 Getty Images

The Illinois congressman, who has been absent from the House for months due to ongoing treatment for depression and bipolar disorder, is in the midst of plea negotiations with federal officials over his alleged misuse of campaign funds. While Jackson was reelected on November 6, he will probably give up his Congressional seat soon (a move that, as Jason Zengerie reported in last week's issue of New York, has likely been planned for a while.) The terms of the deal under discussion would allow Jackson to resign citing health reasons; he would then plead guilty to misuses of campaign funds, repay the money, and possibly serve time in prison.