According to an article in the Wall Street Journal, President Bush signed H.R. 1424 into public law shortly after the House passed the measure this afternoon. This legislation grants the U.S. Department of Treasury $700 billion in funding alongside $152 billion in tax breaks and tools for federal regulators to use in hopes to calm financial turmoil in the U.S. economy.
Read President Bush’s press statement about the passage of H.R. 1424.