New Hope For Financial Rescue Plan

Associated Press

WASHINGTON (AP) -- A financial bailout plan could be revived in the Senate thanks to a few changes made in hopes of picking up enough support from House Republicans.

The Senate expects to easily pass their version later tonight.

Added to the bill are some tax breaks and a provision to again exempt more than 20 million middle-class Americans from the alternative minimum tax. The goal is to win enough House GOP votes to pass the bill, even if it angers moderate "Blue Dog" Democrats concerned that the tax cuts will add to the federal deficit.

The Senate version of the bailout plan also has an increase in the government's $100,000 cap on insured bank deposits.

The House could vote on it by the end of the week. Connecticut Senator Chris Dodd says he hears some who voted "no" on Monday are having second thoughts.