The US House of Representatives has voted in favor of a revised 700 billion dollar rescue package to stabilize buffeted financial markets.
After rejecting the original version last Monday, the House voted 263 to 171 to approve the bailout plan. President George W. Bush has already signed the bill into law. He praised Congress for its speedy and bipartisan effort. The new package includes 150 billion dollars in tax breaks and allows the government to buy the distressed bank assets that triggered the Wall Street financial crisis in the first place.
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