Thune will support bailout bill
12:42 PM
Posted: Wednesday, October 01, 2008
WASHINGTON (AP) -- South Dakota Sen. John Thune is supporting a $700 billion financial industry bailout bill.
Thune said he will vote for the legislation, which will be considered in the Senate Wednesday evening. The House rejected a similar bailout Monday.
The plan for Wednesday night's vote was set after Senate leaders agreed to add tax breaks for businesses and the middle class and increase deposit insurance in an attempt to revive the legislation rejected by the House.
Thune said the crisis is "very real" and is already affecting South Dakota. He said he supports the bill's added market oversight and curbs on executive pay.
South Dakota's only member of the House, Democrat Stephanie Herseth Sandlin, voted against the bailout Monday.
Thune said he will vote for the legislation, which will be considered in the Senate Wednesday evening. The House rejected a similar bailout Monday.
The plan for Wednesday night's vote was set after Senate leaders agreed to add tax breaks for businesses and the middle class and increase deposit insurance in an attempt to revive the legislation rejected by the House.
Thune said the crisis is "very real" and is already affecting South Dakota. He said he supports the bill's added market oversight and curbs on executive pay.
South Dakota's only member of the House, Democrat Stephanie Herseth Sandlin, voted against the bailout Monday.
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