Republican Sen. Elizabeth Dole says she will vote against a revised $700 billion bailout of the nation's financial industry.

Meanwhile, Dole's Democratic challenger in her tight bid for re-election declined to take sides as the historic measure heads for a vote.

Dole said Wednesday the measure is "a government takeover of our economy with no protection for taxpayers." She does consider the relief package an improvement over a proposal that failed earlier this week in the House.

The Senate is expected to vote Wednesday night on the bailout
package.

Dole's challenger, Democratic state Sen. Kay Hagan, said Wednesday she wanted to see the final measure before taking a position. She also declined to voice an opinion on the bailout plan voted down by the House.