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Wednesday, Oct. 1 - The first hurdle
Senate Majority Leader Harry Reid, D-NV, center, speaks alongside Sen. Chris Dodd, D-CT (L), Sen. Max Baucus, R-MT.,(2nd-L), Sen. Judd Gregg, R-NM, (2nd-R) and Senate Minority Leader Mitch McConnell, R-K, at a press conference following the Senate's vote on the financial sector bailout legislation.
But lawmakers came through Wednesday night, as the Senate passed a modified version of the bill that the House of Representatives rejected on Monday.
The Senate version included a number of new provisions aimed at Main Street, and intended to attract more votes from House Republicans, two-thirds of whom voted against the initial bailout plan. The modifications include temporarily raising the FDIC insurance cap to $250,000 from $100,000, extending renewable energy tax breaks and another year of relief from the Alternative Minimum Tax.
The revised measure was passed by a vote of 74 to 25 after more than three hours of floor debate in the Senate. Presidential nominees Sens. Barack Obama, D-Ill., and John McCain, R-Ariz., voted in favor.
NEXT: Thursday, Oct. 2 - Wait and see
- Sun. 9/14
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Last updated December 26 2008: 9:00 AM ET
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