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Senate passes $700B 'sweetened' rescue package

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  • Greg Cannon
    http://news.yahoo.com/s/ap/20081002/ap_on_bi_ge/financial_meltdown;_ylt=AtKBCaOeZyeVgdyVLjEYZY2s0NUE Senate passes $700B sweetened rescue package By JULIE
    Message 1 of 1 , Oct 1, 2008
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      http://news.yahoo.com/s/ap/20081002/ap_on_bi_ge/financial_meltdown;_ylt=AtKBCaOeZyeVgdyVLjEYZY2s0NUE

      Senate passes $700B 'sweetened' rescue package

      By JULIE HIRSCHFELD DAVIS and CHARLES BABINGTON, Associated Press Writers 9 minutes ago

      WASHINGTON - After one spectacular failure, the $700 billion financial industry bailout found a second life Wednesday, winning lopsided passage in the Senate and gaining ground in the House, where Republicans opposition softened.

      Senators loaded the economic rescue bill with tax breaks and other sweeteners before passing it by a wide margin, 74-25, a month before the presidential and congressional elections.

      In the House, leaders were working feverishly to convert enough opponents of the bill to push it through by Friday, just days after lawmakers there stunningly rejected an earlier version and sent markets plunging around the globe.
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