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McCain, Obama help pass bailout in Senate

Posted by Jason Tuohey  October 1, 2008 09:58 PM
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Senators John McCain and Barack Obama put aside partisan divisions tonight to help the Senate approve its version of the $700 billion economic bailout package.

The bill passed by a wide margin of 74-25.

Senators made the bill more palatable than the version the House of Representatives rejected Monday by adding several provisions, including tax breaks.

Another measure added to the bill, one endorsed earlier this week by both McCain and Obama, called for an increase in the amount of bank deposits covered by the Federal Deposit Insurance Corporation from $100,000 to $250,000.

The only senator who did not vote for the bill was Edward M. Kennedy (D-Mass.), who has been largely vacant from the Senate after being diagnosed with cancer earlier this year.

Obama's vice presidential candidate, Senator Joe Biden (D-Del.), also voted for the measure, as did John F. Kerry, Kennedy's Bay State counterpart in the Senate.

Among New England senators, only Bernie Sanders, an independent from Vermont, voted against the bailout. Click here for the full roll call.

The bill now heads to the House, where it is expected to be taken up as early as Friday.

Read more about the bill's passage here.

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About Political Intelligence

Glen Johnson Glen Johnson is Politics Editor at boston.com and lead blogger for "Political Intelligence." He moved to Massachusetts in the fourth grade, and has covered local, state, and national politics for over 25 years. E-mail him at johnson@globe.com. Follow him on Twitter @globeglen.
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