housing legislation

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Housing Bill Funds Democratic Ally

Group sets out to register the poor

(Newser) - Nestled in the housing bill President Bush signed yesterday is an acronym Republicans don’t like one bit: ACORN. The Wall Street Journal reports that the group is among the many housing-related nonprofits the bill hands cash to, but Republicans grumble that it does more than housing. It’s also... More »

In Switch, Bush Will Sign Bill Overhauling Fannie, Freddie

Measure that would allow feds to insure $300B in mortgages expected soon

(Newser) - President Bush will support a housing package being considered in the Senate, the Wall Street Journal reports. Bush threatened to veto the bill, which includes as much as $300 billion of insurance for Fannie Mae and Freddie Mac, but decided, given market turmoil, that now “is not the time... More »

Housing Industry Funnels Cash to Lawmakers

Campaign contributions soar compared to 2006

(Newser) - The housing industry has given more campaign cash to lawmakers and political parties this election cycle than it gave through the entire 2006 cycle, the Wall Street Journal reports, as an emergency housing bill containing favorable provisions for the industry has been working its way through Congress. Cash has flowed... More »

Housing Bill Loaded with Corporate Tax Breaks

But little to prevent foreclosures

(Newser) - The bill was rushed through the Senate to come to the aid of homeowners facing foreclosure, but it turns out that some of its biggest beneficiaries are automakers, airlines and energy producers. The Senate’s housing bill is packed with billions in corporate tax cuts, the New York Times reports.... More »

Senate Passes Housing Aid Bill

Wins approval by wide margin, but House, Bush opposition leave fate uncertain

(Newser) - The Senate approved a $15 billion measure to address the housing slump today, including $6 billion in total tax breaks to homebuilding firms and a $7,000 tax credit for buyers of foreclosed homes. Though it passed by an 84-12 margin, opposition from President Bush and the House could yet... More »

Congress Cashes In on Subprime Lobby

Campaign donations from housing, financial industries skyrocket

(Newser) - The subprime crisis isn’t bad for everyone: congressmen and lobbying firms are doing great, Politico reports. Industries caught in the crunch have drastically scaled up their campaign contributions, and dozens of new lobbying firms have sprung up to cash in. Securities and investment PACs, for example, have already given... More »

Lawmakers Go Bipartisan on Housing

It wasn't April Fool's Day, it was 2 weeks with voters that did it

(Newser) - Lawmakers are suddenly coming together on housing, with Republicans supporting a bill they left for dead two weeks ago, and Democrats cooling the political rhetoric for a change. The difference: those two weeks were spent back home with constituents, Politico notes. “Unless every member of the Senate was in... More »

Housing Bill Clears Key Senate Hurdle

Package of relief measures garners bipartisan support

(Newser) - The Senate voted 94-1 to move a housing legislation package into formal consideration today, reports the New York Times. Banking committee chair Chris Dodd and ranking Republican Richard Shelby now have until noon tomorrow to work out a compromise acceptable to both parties. “Inaction is not an option,"... More »

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