Wednesday, October 1, 2008

Breaking News: Senate Passes Bailout Bill

With a vote of 74 yes and 25 nayes the Senate has passed their version of the Bailout Bill.  The Senate version included several "sweeteners" including Mental Health Parity.
Why Mental Health Parity? The Senate needed to attach their bailout bill to an existing legislation and this pick is a good one.

Here are the "sweeteners" as presented by CNN News:

  • An increase in the amount that the Federal Deposit Insurance Corporation will insure in bank accounts: to $250,000, up from $100,000
  • A fix that would prevent middle-class taxpayers from paying the alternative minimum tax
  • A number of tax extensions favored by either Republicans or Democrats
  • Tax exemptions for renewable energy
  • A measure that would require health insurers to treat mental health issues the same way they treat physical illnesses
So how did the Senators from North Carolina vote?

Senator Dole voted No.  Senator Burr voted Yes.

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