The Senate's Bailout Bill

The Senate is scheduled to vote tonight on a modified version of the $700 billion Hanke-Panke baillout bill. The modifications boost federal deposit insurance limits and include several tax breaks and tax cut extensions, moves designed to attract Republican House members. As we reported last night, the vote most likely will come after 7:30 p.m., held off until after sunset in observance of the Jewish holiday Rosh Hashanah.

We just started looking at the actual text of the bill, which is being attached to a mental health bill through an amendment offered by Senate banking chair Chris Dodd. Here’s a pdf of the amendment so you can get started reading also. Let us know if you find anything surprising by leaving a note in the comments section below.

We’re told by Capitol Hill insiders that the bill is widely expected to easily pass the Senate.

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