Finally, Wall Street rescue package has been cleared by the US House of Representatives. The lawmakers, who were wary of a crisis in the nation’s economy, voted in favour of the $700-billion bailout package. The bill will be now sent to President George W. Bush for his signature.
The bill has won 263 in favour and 171 votes against. On Monday, the same House had rejected the plan by 228-205 votes, which resulted in a massive behind the scene action to get the bill passed at Senate (74-25)on Wednesday.
The bailout plan was also revised to appeal to a large number of law makers and public opinion. So the package also included $152 billion in unrelated tax breaks.