NewsFlashUS House passes $700bn bailout bill

03 October 2008 18:31  [Source: ICIS news]

WASHINGTON (ICIS news)--The US House of Representatives gave final congressional approval on Friday to the $700bn (€504bn) financial rescue plan, sending the controversial bill to the White House for President George Bush's signature.

 

The House voted 263-171 in favour of the bailout package, HR-1424, "The Emergency Economic Stabilization Act".

 

The vote tally easily surpassed the simple majority of 218 that was needed. Bush was expected to sign the bill later on Friday.

 

($1 = €0.72)

 

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By: Joe Kamalick
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