They did it. The Senate approved its own version of bill to rescue the US economy Wednesday night, saying changes designed to protect individual investors and small business owners could be enough to get House members to go along with the plan.

Senators agreed to the amendment to an unrelated bill, 74-25. Passage of the main bill was considered a formality.

CNNMoney.com reports "Advocates say the plan is crucial to government efforts to attack a credit crisis that threatens the economy and would free up banks to lend more. Opponents say it rewards bad decisions by Wall Street, puts taxpayers at risk and fails to address the real economic problems facing Americans.

Because of Senate add-ons, the bill's initial price tag will be higher than the $700 billion that the Treasury would use to buy troubled assets. But over time, supporters say, taxpayers are likely to make back much if not all of the money the Treasury uses because it will be investing in assets with underlying value."

Reaction to the bill's passage was swift.

Oldermom tweets ".I'm stunned...senate at its finest? Is he kidding?"

While ponderlogirl says "Senate shows house who can get the job done"

Clownmommy tweets, "I was so happy when the House didn't agree to the bail out package why is the Senate giving Wall Street $700 Billion??? Rich people suck!"

What do you think? Was this a necessary step? Should the House move forward or should they put the brakes on this bill?