Senate to Vote on Rescue Plan, New Measures to be Included
U.S. senators will vote tonight on a revamped financial rescue package after the House of Representatives rejected an initial $700 billion plan. Both U.S. presidential hopefuls John McCain and Barack Obama are returning from the campaign trail to cast their vote in the Senate.
The new package is expected to be similar to the initial plan, but will include some new measures to ease its passage through Congress. One of those new clauses will raise the government's guarantee on savings from $100,000 to $250,000.
The vote comes after senior Democrats pledged to find a bipartisan solution.
Analysts say the Senate is more likely to pass the bill because senators are not facing the same pressure from voters as members of the House.
Published on October 1, 2008
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