October 3, 2008
House passes bailout plan
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.