House Vote Is Underway
For the second time this week, the House of Representatives is voting on an historic $700 billion bailout plan. In a stunning vote on Monday -- and a stinging blow to the Bush administration -- the House defeated the bill on a narrow vote. The market seems hopeful, with the Dow up more than 250 points today.
The Senate took up a similar measure on Wednesday and passed it. To lure wary senators, the Senate version added sweeteners such as tax cuts and a temporary bump, to $250,000, in the cap on federal insurance for bank deposits. From the Not Making This Up Department: The bill also repeals a 39-cent excise tax on wooden arrows for children.
Keep checking this blog for live reporting on the vote and the aftermath.
-- Michael S. Rosenwald
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