United States Senate leaders have scheduled a vote for today on the US$700 billion Wall Street financial rescue plan rejected by the House of Representatives on Monday.

Majority Leader Harry Reid and Senator Mitch McConnell, leader of the minority Repub-licans, say they plan to add a tax cut package already rejected by the House.

The bipartisan move caps a day of behind-the-scenes manoeuvrings in Congress over what sweeteners to add to the bill to attract votes from House Republicans.

Biggest sell-off

Wall Street snapped back Tuesday after its biggest sell-off in years amid growing expectations that lawmakers will salvage a US$700 billion rescue plan for the financial sector.

Reid and McConnell's move may prove popular with Republicans, but it risks a showdown with House leaders insisting that a popular measure extending certain business tax breaks be financed by tax increases elsewhere in the code.

The Senate plan also would raise federal deposit insurance limits to US$250,000 from US$100,000 per account.

- AP