Friday, October 3, 2008

Bail-Out

After the collapse of the financial markets following the Monday vote, Congress passed the Bail-Out Bill. Major revisions to the bill include tax cuts and pet projects totalling $150 billion that were necessary for the bill to pass. The Senate passed it 74-25 and the House passed it 263-171. Those voting Aye were 91 Republicans and 172 Democrats. Those voting Nay were 108 Republicans and 68 Democrats.

This is a typical Congressional bill that gave the executive branch more power while granting money for pork-barrel projects for certain members of Congress. More of the same from Washington.

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