Fears of a voter backlash appear to be the main reason members of the US House of Representatives voted against the economic rescue plan.
The details had been agreed by party leaders and the bill was expected to pass. But it is thought voter concerns about spending tax revenue to bail out Wall Street fed through to the Representatives.
Both Barack Obama and John McCain had appealed for bi-partisan support for the bill. In the end two thirds of Republicans and 40 percent of Democrats voted ‘No’. The vote is more likely to hurt Obama’s Republican rival for the presidency. McCain has already fallen behind in the polls with many Americans blaming his party of the crisis.
“I call on Congress to get back obviously immediately to address this crisis. Our leaders are expected to leave partisanship at the door and come to the table to solve our problems,” McCain said after the vote.