New York Times reports late this evening that the Senate is scheduled to vote Wednesday on an economic bailout package after the House defeated H.R. 3997, the “Emergency Economic Stabilization Act,” 228-205 on Monday afternoon. Senate leadership believes that they will succeed in finding legislative resolution after agreeing to include additional tax breaks and extend the limit for insured bank deposits in this version of the bill. Congress hopes to approve legislation for the rescue package in both the Senate and House to send to the President by the end of the week.
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