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Wednesday, Oct. 1 - The first hurdle
Wednesday, Oct. 1 - The first hurdle
Senate Majority Leader Harry Reid, D-NV, center, speaks alongside Sen. Chris Dodd, D-CT (L), Sen. Max Baucus, R-MT.,(2nd-L), Sen. Judd Gregg, R-NM, (2nd-R) and Senate Minority Leader Mitch McConnell, R-K, at a press conference following the Senate's vote on the financial sector bailout legislation.
With credit market gauges showing historically tight lending, investors again were fearful that the government's financial rescue plan would not make it through a widely anticipated Senate vote.

But lawmakers came through Wednesday night, as the Senate passed a modified version of the bill that the House of Representatives rejected on Monday.

The Senate version included a number of new provisions aimed at Main Street, and intended to attract more votes from House Republicans, two-thirds of whom voted against the initial bailout plan. The modifications include temporarily raising the FDIC insurance cap to $250,000 from $100,000, extending renewable energy tax breaks and another year of relief from the Alternative Minimum Tax.

The revised measure was passed by a vote of 74 to 25 after more than three hours of floor debate in the Senate. Presidential nominees Sens. Barack Obama, D-Ill., and John McCain, R-Ariz., voted in favor.

NEXT: Thursday, Oct. 2 - Wait and see
Last updated September 14 2009: 2:19 PM ET
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