House passes bailout bill - Hawaii News Now - KGMB and KHNL

House passes bailout bill

WASHINGTON D.C. (KHNL) - The House of Representatives passes a $700 billion economic bailout plan.

In this second effort, the measure passed by a 263-171 vote.

Under it, the Treasury Department can buy bad mortgage-related securities, seaving troubled financial institutions and preventing a serious recession.

The bill also includes $110 billion in additional tax breaks, incentives and other measures.

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