Washington, Jan 16 (Xinhua) The US Senate Thursday approved to release the remaining $350 billion of the $700 billion financial bailout package, clearing the way for a new infusion of cash for the financial industry.
The request was approved by a vote of 52-42 after former Treasury secretary Larry Summers, who will be Obama's top economic adviser, promised that up to $100 billion of the remaining funds would be spent on tackling the US home mortgage crisis.
US President George W. Bush Monday asked Congress for the remaining money from the $700 billion financial bailout package which was passed by Congress in October.
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