Today the U.S. House of Representatives debated and voted for the second time in a week on what is being called, depending on perspective, either the bailout or rescue bill, although officially the title of this portion of the bill is the Emergency Economic Stabilization Act of 2008. The legislation passed 263-171 to applause in the chambers as the acting speaker gaveled the vote closed with 172 Democrats and 91 Republicans voting in favor. As expected Idaho Representatives Simpson and Sali once again split their votes, Simpson voting for and Sali against the bill.
The original bill was defeated in the House on Monday on a 228-205 vote (Reps. Simpson in favor and Sali against) sending the stock market into a dive, the Dow losing nearly 778 points at the market's close. Wednesday the Senate passed a revised version of the bill 74-25 with Idaho Senators Craig voting in favor and Crapo against, which added what is being called "sweeteners," including tax cuts, an increase in federal deposit insurance and other measures, to make the bill more appealing to House Republicans. Apparently that was enough.
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