If it passes, the House of Representatives could be under pressure to accept some of the changes when it meets on Thursday.
However, some members of Congress are continuing to press for more fundamental changes, for instance for a system of insurance for bad loans, rather than the removal of the loans from the books of financial companies, says the BBC's Americas editor Justin Webb.
Earlier President Bush had warned of "painful and lasting" consequences for the US should Congress fail to agree a rescue plan.
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