Microsoft's Petition on Bailout Bill Flopped

Microsoft's Petition on Bailout Bill Flopped

Microsoft's aim to pass a Wall Street bailout bill failed to garner votes as a modified bill was pushed through House of Representatives.


Despite the botch, Microsoft expressed its gratitude to the home state delegation. Brad Smith, Microsoft's chief lawyer, said, "Microsoft is pleased to see members of the U.S. House of Representatives and Senate come together to pass this important legislation. I particularly appreciate the support of the members of the Washington State delegation who cast their vote today to help preserve jobs in all sectors of the economy of Washington state and across the U.S."



Microsoft initially pushed for the $700 billion financial bailout plan  in an effort to retain jobs and combat economic recession. A revised bill was passed leaving the  $700 billion bailout intact and affixed a shelved tax bill. The tax bill has provisions that will have a net expenditure of $100 billion over 10 years. It had been delayed due to a discord between Democrats that opposed to the budget increase without a corresponding boost in taxes and Republicans, who were strongly against any tax increases.