Senate Version of Bailout Grows Sweeter, Fatter

By M. Morris,  Newser Staff
Posted Oct 1, 2008 3:31 PM CDT
Sen. Judd Gregg, R-N.H., right, and Senate Republican Leader Mitch McConnell, R-Ky., speak on the financial crisis Saturday, Sept. 27, 2008, on Capitol Hill in Washington.    (AP Photo/Lauren Victoria Burke)
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(Newser) – The Senate version of the bailout bill has ballooned to more than 400 pages as legislators flesh out details in hopes of gaining passage as soon as tonight, Politico reports. The marquee measure boosts FDIC coverage of individual accounts from $100,000 to $250,000, with numerous lower-profile provisions intended to speed passage and increase pressure on the House to get moving.

Tax breaks that run to more than $100 billion and aid to rural schools are other headline elements. One feature with bipartisan support is a health-care initiative mandating equivalent treatment for mental and physical ailments. Both parties seemed confident of Senate passage, the AP reports. And both John McCain and Barack Obama are expected on Capitol Hill tonight, when two roll-call votes are expected.