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House Passes Modified Bailout Bill
By
Jen Chung
Published Oct 3, 2008
Modified Oct 3, 2008
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By
Jen Chung
Published Oct 3, 2008
Modified Oct 3, 2008
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After defeating an earlier version of the bill on Monday, the House of Representatives passed the $700 billion bailout package 263 votes to 171votes against (it needed 218 to pass), sending stocks up. The Senate already passed the bill on Wednesday and now just President Bush needs to sign off. Along party lines, the vote was: 172 yeas to 63 nays for Democrats; 91 yeas to 108 nays for Republicans. The NY Times reports that Rep. Zach Wamp (R-Tennessee) said, “Monday I cast a blue-collar vote for the American people. I am going to cast a red, white and blue-collar vote with my hand over my heart for this country, because things are really bad and we don’t have any choice. We’re out of choices and our backs are up against the wall." And CNBC has details on what's in the revised plan.
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Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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