House To Vote On Revised Bailout Bill
In Washington Thursday, there's worry and uncertainty over the bill to rescue the nation's financial markets. The measure got a rousing reception Wednesday from the Senate-where it passed in a lopsided vote. But now it faces a return to the House of Representatives-which killed a similar bill Monday.
With the Senate's passage of the economic rescue plan- the bill's future now sits with the House. President Bush has called dozens of house lawmakers trying to gain support- and
The amended senate bill added several sweeteners to make it more appealing to some House members who voted against the first version. The new plan includes an increase in the federal deposit insurance cap from $100,000 dollars to $250,000 dollars- and tax breaks for businesses.
Those and other additions tacked on $130 billion dollars to the already $700-billion- dollar bill. The White House says the changes convinced several members who voted against the bill earlier in the week to switch their votes in support- but some in the House remain unconvinced.
Congress and the Bush administration want to act fast to protect jittery markets in the U.S. and abroad- the house is expected to vote on the plan on Friday.