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Senate prepares for bailout vote

Modified legislation expected to pass tonight
Published on Oct 1, 2008

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by CareyBot

The U.S. Senate is planning to vote today on a modified version of the $700 billion financial bailout plan that was struck down by the U.S. House of Representatives Monday in a 228-205 vote.

The Senate version of the legislation, which will require 60 votes to pass rather than a simple majority, proposes to raise the FDIC and National Credit Union Share Insurance Fund deposit insurance limits from $100,000 to $250,000 per depositor per bank.

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