INDEPENDENCE, Mo. -- In a short, but direct speech at the Truman Library, GOP presidential candidate Sen. John McCain urged the passage of the stock market bailout bill or risk economic disaster.

"If the financial rescue bill fails in Congress yet again, the present crisis will turn into a disaster. As credit disappears, students will no longer be able to get loans for college, and families looking for a new home will be unable to get a loan. New car sales will come to a halt. Businesses will have difficulty securing credit for operations and may be unable to pay employees. If we fail to act, the gears of our economy will grind to a halt," McCain said.

McCain said he would return to the Senate Wednesday to vote on the bill.

"I will be returning to the floor of the Senate to vote on a bill that marks a decisive step in the right direction. The original proposal was flawed. I urged additions of taxpayer protections, stronger oversight, limitations on executive compensation and more protections for people's bank accounts. I am pleased that these are being added to improve the original bill. It took Congress a while, and there were costs to these delays. But they have awakened to the danger. And today, with the unity that this crisis demands, Congress will once again work to restore confidence and stability to the American economy," McCain said.

About 120 invited guest were in the auditorium of the Truman Library for the Arizona senator's speech.

KMBC's Micheal Mahoney will have a one-on-one interview with McCain. Watch for that interview on our news tonight.