Search
 
 

Display results as :
 


Rechercher Advanced Search

Latest topics
» Bible Study
Sat Jul 15, 2017 3:26 pm by Admin

» So far......
Wed Feb 15, 2017 2:58 pm by Admin

» DreamAbode partners Lagos state ministry of housing on ‘Rent to own” scheme in making more youths landlords
Fri Jan 27, 2017 8:08 am by Admin

» Photo of the week
Fri Jan 27, 2017 7:55 am by Admin

» Great movie soundtracks
Tue Nov 29, 2016 3:44 pm by Admin

» Cake designs
Tue Nov 22, 2016 6:44 pm by Admin

» youtube karaoke
Wed Nov 16, 2016 9:16 pm by Admin

» Oldies Oldies Oldies
Wed Nov 16, 2016 6:25 pm by Admin

» Christian music
Wed Nov 16, 2016 6:23 pm by Admin

Navigation
 Portal
 DiscussionForums
 FAQ
 
November 2017
SunMonTueWedThuFriSat
   1234
567891011
12131415161718
19202122232425
2627282930  

Calendar Calendar

Shopmotion



US Senate backs new bail-out bill

View previous topic View next topic Go down

US Senate backs new bail-out bill

Post  Admin on Wed Oct 01, 2008 9:11 pm

The Senate has approved a new version of a $700bn (£380bn) rescue plan for the troubled US financial system.

Senators voted 74 to 25 in favour of the emergency legislation designed to stabilise volatile markets and limit further damage to the economy.

It included an increase in the level of government insurance for bank deposits and a raft of targeted tax breaks.

The plan will now go before the House of Representatives, which narrowly rejected a similar bill on Monday.

US presidential hopefuls John McCain and Barack Obama, who both support the rescue plan, returned from the campaign trail for the vote.

CHANGES TO BILL
Raises government's guarantee on savings from $100,000 to $250,000
Tax breaks to help small businesses and promote renewable energy
Expansion of child tax credit and help for victims of recent hurricanes


Senate majority leader Harry Reid, a Democrat, said he was happy with the result and praised both candidates.

"I think it shows that when we work together we can accomplish good things," he said.

"I think it speaks volumes that both of our presidential candidates are here and voting - both supporting this legislation."

Speaking a few hours before the vote, President George W Bush said the bill needed to pass in order to calm volatile markets.

"It's very important for us to pass this piece of legislation so as to stabilise the situation - so that it doesn't get worse and then our fellow citizens lose wealth and work," he said.

The House of Representatives is expected to vote on the revised version on Friday.

The BBC's Jonathan Beale, in Washington, says senators from both parties are congratulating each other for rising above party politics and acting in the interests of the US.

But he says the bill has passed only the first hurdle, and such celebrations could yet prove to be premature.


bbc news

Admin
Admin

Posts : 2061
Join date : 2008-07-18

http://lagosisland.forumotion.net

Back to top Go down

Re: US Senate backs new bail-out bill

Post  chithanh119 on Thu Oct 16, 2008 8:57 am

Thanks for your news

chithanh119

Posts : 2
Join date : 2008-10-16

Back to top Go down

Re: US Senate backs new bail-out bill

Post  Admin on Sat Oct 18, 2008 3:10 pm

chithanh119 wrote:Thanks for your news

you're welcome.

The economy is such a yoyo right now- I cant help but wonder if the downturn has peaked yet, or if there's more to come. Question

Admin
Admin

Posts : 2061
Join date : 2008-07-18

http://lagosisland.forumotion.net

Back to top Go down

Re: US Senate backs new bail-out bill

Post  Sponsored content


Sponsored content


Back to top Go down

View previous topic View next topic Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum