Politics & Government

September 30, 2008

Senate plans vote today on a revised bailout plan

The Senate plan includes tax cuts for businesses and renewable energy, a higher ceiling on federal bank deposit insurance and a fix to the alternative minimum income tax that forces millions of Americans to pay higher individual income taxes. The new bill would also raise the cap on federally insured bank deposits from $100,000 to $250,000, a move both Barack Obama and John McCain endorsed. Both presidential candidates said they’d return to Washington for the vote.

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