U.S. Sens. Robert C. Byrd and Jay Rockefeller, both D-W.Va., voted for legislation Thursday "to provide needed housing reform and for other purposes."
The bill sent to the House 84-12 is "a bipartisan package of tax breaks and other steps designed to help businesses and homeowners weather the housing crisis," though "even its supporters acknowledge it's tilted too much in favor of businesses such as home builders and does little to help borrowers at risk of losing their homes," The Associated Press reports.
"Before passing the measure, the Senate added $6 billion in unrelated tax breaks for renewable energy producers, despite Senate rules that say tax cuts need to be "paid for" with revenue increases elsewhere in the tax code," AP notes. "The bill also offers $150 billion for pre-foreclosure counseling and stronger loan disclosure requirements."
11 April 2008
They Voted For You: Mortgage Crisis
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3 comments:
So if I wildly over-speculate the demand for, I don't know, Peruvian rice or Malagasy vanilla, just like the homebuilders who rushed to stick 12 McMansions in every empty lot in the hinterlands of our cities, can I expect the government to bail me out, too?
You can count on it, Chris. As long as liberals are in charge and they can pretend they are helping the little guy with your payoff.
UH. Clear eyes it is not the liberals that want to bail out the banks. You need some visene drops.
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