Senate Bailout Vote

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

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)