Senate to Vote on Revised Bailout Bill

After the proposed 700 billion dollar bailout bill failed in the House of Representatives on Monday, major political leaders urged the congress to take immediate action on revising the plan in order to make it pass. Today, a revised bill will be introduced into the Senate, in hopes to save the current failing economy.

Mitch McConnell, a Kentucky Senator, says it would “shield Americans from a shockwave of problems they didn’t create.” Senator Harry Reid hopes that if the Senate shows a strong example of bipartisanship, the House of Representatives would be encouraged to do the same. Presidential candidates Barack Obama and John McCain will be returning to Washington D.C. for the vote that will take place later today.

Obama stated while speaking in Reno, Nevada, that without this bill “millions of jobs could be lost, and a long painful recession could follow. There will be a time to punish those who set this fire, but now is the moment for us to come together to put the fire out.”

SOURCE

xPirate’s thoughts on the matter: I think in previous posts I’ve already said that I thought it was necessary for this bill to pass. I guess we’ll find out later today. Stay tuned for updates.

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