House Passes Financial Markets Bill

The House of Representatives passed today the latest version of the Economic Stabilization Act of 2008, the same bill passed in the Senate two days ago. Needing 218 votes in support for it to pass, the measure was approved easily with 263 yea votes to 171 nays.

An earlier version of the financial markets rescue plan failed to pass the House on Monday, with only 205 voting for the bill and 228 against it. This version received the support of 32 more Democrats (172) and 26 more Republicans (91) than the previous one.

Shortly after the bill was passed, Pres. Bush confirmed he would indeed sign the package. "A short time ago, the House of Representatives passed a bill that is essential to helping America's economy weather the financial crisis," Bush said from the White House Rose Garden. "The Senate passed the same legislation on Wednesday night. And when Congress sends me the final bill, I'm going to sign it into law."

UPDATE: Click over to The Scorecard for more on the bill, including which members in competitive re-election races changed their vote.

--------------------------------------------
Follow the RCP Blog on Twitter.
Become a fan of RCP on Facebook.
--------------------------------------------



Copyright © Time Inc. All rights reserved.

Powered by WordPress.com VIP

Subscribe | Customer Service | Help | Site Map | Search | Contact Us | Privacy Policy
Terms of Use | Reprints & Permissions |
Press Releases | Media Kit Try AOL for 1000 Hours FREE!