Jump directly to the content

House passes bailout plan

The House of Representatives voted 263-171 today to pass the Senate's version of the $700 billion bailout bill, a plan some evangelicals told me they cautiously support.

The House voted against the plan on Monday, creating a steep decline in the markets. The Senate sweetened the deal, adding $150 billion in tax breaks and increased Federal Deposit Insurance Corporation coverage from $100,000 to $250,000. The bill would also bill would curb executive pay, provide relief from the Alternative Minimum Tax for another year, and set up oversight committees.

Update: President Bush signed the bailout bill.

Related Topics:Politics
Posted:October 3, 2008 at 12:40PM
Gleanings aggregates what others are reporting. Learn more.
Recent Posts
Can Wheaton College Require ROTC Program Be Run By Christians?
US Army reviews nationwide policy for ROTC profs, who are paid by military but work as full-time faculty.
Died: R. Judson Carlberg, Christian Higher Ed Leader, Biologos Chair
On Thanksgiving, he once wrote, 'I am thankful for cancer. James 1:2-3... Life is richer, trust is stronger and relationships are deeper.'
Politics
President Obama Cites Exodus on Immigration Reform: 'We Were Strangers Once Too'
(UPDATED) Reactions from Sam Rodriguez, Russell Moore, Jenny Yang, Noel Castellanos on Obama's motive vs. method.
Pope Francis Learns What Rick Warren, Russell Moore, N. T. Wright Think about Marriage
(UPDATED) Warren turns Vatican conference into 'revivalist meeting,' while Moore explains why marriage crosses theological boundaries.
Christianity Today
House passes bailout plan