Both Senator McCain and Senator Obama were back in Washington, DC today to vote on the Senate’s version of the proposed $700 billion Wall Street bailout proposal. The Senator version will now be sent to the House, however, both Obama and McCain have now taken a position by giving a nod to the legislation. Sen. Joe Biden, Obama’s VP, also voted to approve the bill.
You can view the roll call vote here:
McCain (R-AZ), Yea
Obama (D-IL), Yea
Biden (D-DE), Yea
Report from CBS News:
(CBS/AP) After one spectacular failure, the $700 billion financial industry bailout found a second life Wednesday, winning lopsided passage in the Senate and gaining ground in the House, where Republicans opposition softened.
Senators loaded the economic rescue bill with tax breaks and other sweeteners before passing it by a wide margin, 74-25, a month before the presidential and congressional elections.
In the House, leaders were working feverishly to convert enough opponents of the bill to push it through by Friday, just days after lawmakers there stunningly rejected an earlier version and sent markets plunging around the globe.
Bipartisan supporters rallied around a unity theme – a stark contrast to the political bickering that marked Monday’s shocking House defeat, reports CBS News correspondent Bob Orr.
The measure did not cause the same uproar in the Senate, where both parties’ presidential candidates, Republican John McCain and Democrat Barack Obama, were making rare appearances to vote their support. That would send the package back to the House, where passage would require a turnaround of 12 votes from Monday’s 228-205 defeat.
Leaders in both parties, as well as private economic chiefs everywhere, said Congress must quickly approve some version of the measure to start loans flowing and stave off a potential national economic disaster.
So there you have it, both Presidential candidates taking the same stand on this both voting in favor of the Senate’s form of the bailout. On the surface this doesn’t do anything yet as it has to be passed by the House, perhaps as early as Friday. That is, of course, if the House doesn’t cave to voters who seem to oppose the measure. As of right now, the House email system is still bogged down by voters expressing discontent with the bailout bill.
More reporting tomorrow on this as the chips fall.