US Senate approves rescue plan
Published:Thursday | October 2, 2008 | 11:28 AM
The Senate has approved a new version of a US$700b 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.
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.
President George W Bush praised Senate leaders for making what he called vital improvements to the rescue package and urged the House to approve the measures.