Last night, the Seante approved, by a vote of 74-25, to approve their Bailout Bill. Senator Kennedy was the only senator not to cast a vote. This will now be sent to the House, where it could potentially be voted on by Friday. Talking heads say that the bill will not be presented for vote unless it is guarenteed to pass. No one wants a repeat of Monday’s economic dive after the first bill was rejected.
How were people able to get the bill passed by the Senate? Changes and gifts…
Some key features of the Senate Bill voted last night:
Section 211: “Transportation Fringe Benefit to Bicycle Commuters”
Section 317: “Seven-Year Cost Recovery Period for Motorsports Racing Track Facility”
Section 310: “Extension of Mine Rescue Team Training Credit”
Section 314: “Indian Employment Credit”
Section 503: “Exemption from excise tax for certain wooden arrows designed for use by children”
House plan voted down: 125 pages
Senate plan: 451 pages (I hope they double sided)
Good to see our tax dollars are hard at work!!
Everyone should know my stance by now. While it sucks that this has to happen…IT HAS TO HAPPEN!! Without this bailout we are heading towards another depression, something no one wants.