The US House of Representatives is expected to vote tomorrow on a revised financial sector rescue package following its approval by the US Senate.
The lower house of the US Congress rejected US President George W Bush's original package of measures in a 228-205 defeat on Monday.
Late last night, the US Senate approved a revised version of the Bush administration's $700bn rescue package.
The measure was passed by 74 votes to 25.
The Senate voted for the legislation after adding a $150bn package of tax breaks for businesses and alternative energy development.
The package also includes alternative minimum tax relief for some 24m mostly middle class taxpayers.
Following the vote, Senate Majority leader Harry Reid, a Nevada Democrat, said he expected the House to approve the bill.
Senate leaders hope that sweetening the bailout plan with tax breaks and a provision to increase bank deposit insurance to $250,000 from $100,000 would help win more Republican support in the House.
The White House has described the bailout package as vital to avoid a severe economic downturn.
President Bush urged the House of Representatives to follow the Senate's lead and approve the rescue package, warning that jobs are in jeopardy.
Mr Bush said: 'This issue has gone way beyond New York and Wall Street. This is an issue that is affecting hard-working people.
'They're worried about their savings, they're worried about their jobs, they're worried about their houses, they're worried about their small businesses, and the House of Representatives must listen to these voices and get this bill passed.'
Both candidates in the forthcoming US presidential election, Republican John McCain and Democrat Barack Obama, supported the measure.
Democratic vice-presidential candidate Senator Joe Biden also voted in favour.
