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
By
Michael S. Rosenwald
|
October 3, 2008; 1:07 PM ET
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Posted by: Amazed | October 3, 1908 1:24 PM | Report abuse
I hope Boehner and Blunt lose their positions for steamrolling the Republican to vote for this pork laden steaming hung of manure which came over from the Senate. THIS WAS A DISGRACE. And no member who voted for this bill should be reelected.
Posted by: Lavrat2000 | October 3, 1908 1:37 PM | Report abuse
how many arrows does the excise tax cover 1 or a dozen??
This just points of the lunacy of FedGov.
Get a flat tax on everything and we'd be much better off.!!
Posted by: ibail | October 3, 1908 1:44 PM | Report abuse
even wapo has to lie it's not 700b it's 850b...don't reelect anyone in the house or senate who voted for this bill...
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Posted by: Dwight | October 3, 1908 1:47 PM | Report abuse
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"stinging blow to Bush Administration".... wow, talking about yellow dog journalism...the administration sent up a 3-page bill and democrat house leadership expanded it to 110 pages.....so who was rebuked??? Does the word "fairness", "balance", or "objectivity" reside in your vocabulary, rosenwald? You're not a professional journalist at all!