UPDATE: Comparison of the Original U.S. Treasury Proposal and Current House/Senate Compromise Bill
By V. Gerard Comizio, Kevin Petrasic, Lawrence Kaplan and Jason Rosenstock
The Emergency Economic Stabilization Act 2008
The U.S. Senate passed The Emergency Economic Stabilization Act of 2008 last evening by a vote of 74-25. The Senate action breathes new life in the legislation, which was defeated Monday by the House of Representatives on a widely nonpartisan vote of 205-228. In the Senate, 39 Democrats, 34 Republicans and 1 Independent supported the bill; opposing the legislation were 9 Democrats, 15 Republicans and 1 Independent. This contrasts sharply with the House where 133 Republican members and 95 Democratic members opposed the economic stabilization package in the vote on Monday.