Projo 7 to 7 News Blog

WASHINGTON -- Rhode Island Sens. Jack Reed and Sheldon Whitehouse have lined up behind the $700-billion financial rescue plan as it heads to a Senate vote.

The two Democrats said Wednesday the plan was especially needed to help protect average Americans amid tightening credit markets and a slumping economy.

The Senate moved toward a vote Wednesday night after leaders agreed to add tax breaks for businesses and the middle class and increase deposit insurance in an attempt to revive the legislation rejected earlier this week by the House. The House is expected to vote on the new proposal as early as Friday.

Whitehouse urged the House to follow the Senate's lead on the legislation.

-- The Associated Press

 Tags  financial bailout Jack Reed Sheldon Whitehouse Washington

Comments

Mimi said:

I am very disappointed that our RI Senators succumbed to this bail out plan, and I can not accept their logic that it will help the average American.
Does easing credit mean more "help" in the form of sub-prime lending to people who can not afford it? Does that mean that corporate leaders who amassed personal fortunes while knowingly doing wrong need have no need to be held accountable and penalized? We tax payers of the middle class should be so lucky. So much for government of the people, by the people, for the people if you are not rich.

Link | October 2, 2008 1:05 AM
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