House backs $700bn bail-out plan

Breaking News

The US House of Representatives has voted by 263-171 in favour of a $700bn (£380bn) plan to rescue the US financial sector.

The House vote was the second in a week, following its shock rejection of an earlier version on Monday.

The package is aimed at buying up the bad debts of failing institutions on Wall Street.

The House adopted the new version after the Senate added about $100bn in new tax breaks to win Republican votes.

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