Senate leaders scheduled the vote after agreeing to add tax breaks and a higher limit for insured bank deposits in a bid to attract enough votes to reverse defeat in the House.
AP - In a bold bid to revive President Bush's multibillion-dollar financial rescue plan, Senate leaders scheduled a vote for Wednesday night on a version of the bill that adds substantial tax cuts meant to appeal to Republicans when it reaches the House.
AP - Most Asian markets bounced back Wednesday on hopes that a $700 billion bailout for the U.S. financial system will soon win legislative approval in Washington, although doubts persisted about the long-term outlook for the global economy.
AP - For an audition to be second fiddle, Thursday's debate between often ill-informed newcomer Sarah Palin and often gaffe-prone veteran Joe Biden offers unusually large pitfalls — and promise.
The Senate plans to vote on the $700 billion financial rescue plan Wednesday evening -- two days after the House rejected it. The bill adds provisions including raising the FDIC insurance cap to $250,000, and it will be packaged with other economic measures. Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell announced the plan.
The $700 billion economic rescue plan failed in the House of Representatives because people don't think it will do anything for them, Republican presidential nominee Sen. John McCain told CNN's "American Morning."