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| Version 4 | Version 5 |
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| US Senate backs new bail-out bill | US Senate backs new bail-out bill |
| (30 minutes later) | |
| The Senate has approved a new version of a $700bn (£380bn) rescue plan for the troubled US financial system. | The Senate has approved a new version of a $700bn (£380bn) rescue plan for the troubled US financial system. |
| Senators voted 74 to 25 in favour of the emergency legislation designed to stabilise volatile markets and limit further damage to the economy. | Senators voted 74 to 25 in favour of the emergency legislation designed to stabilise volatile markets and limit further damage to the economy. |
| It includes tax breaks for families and businesses, among other measures designed to win over sceptics. | It includes tax breaks for families and businesses, among other measures designed to win over sceptics. |
| The plan will now go before the House of Representatives, which narrowly rejected a similar bill on Monday. | The plan will now go before the House of Representatives, which narrowly rejected a similar bill on Monday. |
| President George W Bush praised Senate leaders for making "vital improvements to the rescue package" and urged the House to approve the measures. | President George W Bush praised Senate leaders for making "vital improvements to the rescue package" and urged the House to approve the measures. |
| News of the Senate vote had little effect on the Asian markets - Japan's main Nikkei index was down by 1.2% in afternoon trading in Tokyo, and Australian stocks had given up 1%. | |
| Added sweeteners | Added sweeteners |
| The original bill was criticised for pandering to the needs of Wall Street bankers at the expense of ordinary citizens. | The original bill was criticised for pandering to the needs of Wall Street bankers at the expense of ordinary citizens. |
| CHANGES TO BILL Raises government's guarantee on savings from $100,000 to $250,000Tax breaks to help small businesses and promote renewable energyExpansion of child tax credit and help for victims of recent hurricanes Will the US public buy the plan?Global shares mixed ahead of voteSend us your comments | CHANGES TO BILL Raises government's guarantee on savings from $100,000 to $250,000Tax breaks to help small businesses and promote renewable energyExpansion of child tax credit and help for victims of recent hurricanes Will the US public buy the plan?Global shares mixed ahead of voteSend us your comments |
| The $700bn is designed to be used to buy up devalued assets from struggling firms to help kick-start the economy. | The $700bn is designed to be used to buy up devalued assets from struggling firms to help kick-start the economy. |
| Since the House rejected the bill, politicians have added sweeteners such as tax breaks for small businesses and an increase in the amount of savings the state will guarantee - from $100,000 to $250,000. | Since the House rejected the bill, politicians have added sweeteners such as tax breaks for small businesses and an increase in the amount of savings the state will guarantee - from $100,000 to $250,000. |
| The House is expected to vote again on the bill on Friday, and President Bush was keen to stress that the package was "essential to the financial security of every American". | The House is expected to vote again on the bill on Friday, and President Bush was keen to stress that the package was "essential to the financial security of every American". |
| "The American people expect - and our economy demands - that the House pass this good bill this week and send it to my desk," he said. | "The American people expect - and our economy demands - that the House pass this good bill this week and send it to my desk," he said. |
| Treasury Secretary Henry Paulson, the architect of the initial bill who has been criticised over its failure, sounded buoyed by the Senate vote. | Treasury Secretary Henry Paulson, the architect of the initial bill who has been criticised over its failure, sounded buoyed by the Senate vote. |
| "This sends a positive signal that we stand ready to protect the US economy by making sure that Americans have access to the credit that is needed to create jobs and keep businesses going," he said. | "This sends a positive signal that we stand ready to protect the US economy by making sure that Americans have access to the credit that is needed to create jobs and keep businesses going," he said. |
| Premature celebrations? | Premature celebrations? |
| US presidential hopefuls John McCain and Barack Obama, who both support the rescue plan, returned from the campaign trail for the vote. Both presidential candidates turned up for the vote | |
| Senate majority leader Harry Reid, a Democrat, said he was happy with the result and praised both presidential candidates for voting. | Senate majority leader Harry Reid, a Democrat, said he was happy with the result and praised both presidential candidates for voting. |
| "I think it shows that when we work together we can accomplish good things," he said. | "I think it shows that when we work together we can accomplish good things," he said. |
| Mitch McConnell, leader of Republican senators, was also in jubilant mood. | Mitch McConnell, leader of Republican senators, was also in jubilant mood. |
| "This was a measure that was much needed, to unfreeze the credit markets and get America's economy working again," he said. | "This was a measure that was much needed, to unfreeze the credit markets and get America's economy working again," he said. |
| But the BBC's Jonathan Beale, in Washington, says the bill has passed only the first hurdle, and such celebrations could yet prove to be premature. | But the BBC's Jonathan Beale, in Washington, says the bill has passed only the first hurdle, and such celebrations could yet prove to be premature. |