October 3, 2008
President Signs Economic Rescue Legislation
President George Bush has signed H.R. 1424, the Emergency Economic Stabilization Act of 2008. The House passed the bill this afternoon by a vote of 263-171. On Wednesday night, the Senate passed the bill 74-25. Key changes were made after the House failed to pass the bill earlier this week including: an increase in FDIC coverage of bank deposits from $100,000 to $250,000 along with an extension of popular tax credits and a one year patch of the Alternative Minimum tax.
President Signs Economic Rescue Legislation
President George Bush has signed H.R. 1424, the Emergency Economic Stabilization Act of 2008. The House passed the bill this afternoon by a vote of 263-171. On Wednesday night, the Senate passed the bill 74-25. Key changes were made after the House failed to pass the bill earlier this week including: an increase in FDIC coverage of bank deposits from $100,000 to $250,000 along with an extension of popular tax credits and a one year patch of the Alternative Minimum tax.
