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- Senate approved the bailout bill by a wide margin on October 1, 2008
- Measure passed by a vote of 74 to 25CBS News: Senate Passes Financial Rescue Plan (October 1, 2008)
- Vote time: just after 9 p.m. EST
- Senators John McCain and Barack Obama both voted in favor of the billCNNMoney.com: Senate Passes Financial Bailout Bill (October 1, 2008)
- U.S. House rejected bailout measure on September 29, 2008CNN Money: Senate to Vote on Rescue Plan Wednesday
- House was expected to reconsider bailout on October 2, 2008CNN Money: Senate to Vote on Rescue Plan Wednesday
- Dow plummeted 777 points after House rejected bailoutCNN Money: Senate to Vote on Rescue Plan Wednesday
- Senate included hike in FDIC deposit insurance limit in billCNN Money: Senate to Vote on Rescue Plan Wednesday
- Tax cut rejected in the HouseCNN Money: Senate to Vote on Rescue Plan Wednesday
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The United States Senate voted on, and approved, the proposed $700 billion bailout bill on October 1, 2008. The final vote tally: 74 in favor of the measure, 25 against. On September 29, 2008, the U.S. House of Representatives rejected the Emergency Economic Stabilization Act of 2008 by a 228-205 vote.CBS News: Senate Passes Financial Rescue Plan (October 1, 2008) CNN Money: Senate to Vote on Rescue Plan Wednesday
Bailout Bill Sweeteners
On the day of the historic vote in the Senate on the bailout bill, several so-called "sweeteners" were added to the measure. Among them: $100 billion in tax cuts for businesses and the middle class, and an increase in the amount of federal insurance for bank deposits from $100 thousand to $250 thousand. Congressional leaders hoped that the additions would make the bailout bill more attractive to Republicans.FOX News: Revised Bailout Bill Speeds Toward Senate Passage CNN: 'Sweeteners' Could Make Bailout Package Sour for House Dems (October 1, 2008)-
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Senate Bailout Vote Questions
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Do Senators who blocked the Automaker Bailout stand to benefit from the American brands failure? 10 AnswersThat would depend on what part of the country you are a senator from bud. If you live in Detroit well.. read more -
Does President Obama have the executive power by law to demand Senators vote on any particular day? 2 AnswersNo. Nor does the President have the power to require Congress to vote on any particular bill. Under the separation of powers doctrine, Congress writes the laws ... read more -
How do you feel about the Senate allowing passengers to carry guns on Amtrak trains? 4 AnswersI am quite comfortable with the Senate vote and believe it was the right thing for them to do. Amtrak is a federally subsidized transportation system to the tu... read more -
Bailout this, bailout that...what past company do you think could have used a bailout? 6 AnswersProbably a bunch of small businesses proportionately spread around the country to help out the problem of losing business to corporations. Places that had senti... read more
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So McCain is complaing about the bank bailout...gee I wonder how he voted on it...according to the senate record his vote was AYE aka YES.
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With @TeamKay missing Senate votes, I can only imagine she wishes THE ONE would have missed was the bailout vote! @mattklewis @ewerickson
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