Politics

On the Agenda

This week the House plans to consider the America Housing Rescue and Foreclosure Prevention Act of 2008 (H.R. 3221). H.R. 3221 is an amalgamation of Housing and Tax proposals that aim to provide a bailout to local governments and states with high percentage of foreclosure property, enhance regulation of GSE?s, provide broader authority to the Federal Housing Administration on FHA?s and provide new tax incentives to homeowners and state housing authorities to stabilize housing markets. The newest proposal in this Senate/House compromised legislation is the bailout of Fannie and Freddie. The legislation increases the government line of credit to Fannie and Freddie and authorizes the treasury to buy an equity stake in the company. It also will require the Federal Reserve have a supervisory role over Fannie and Freddie.

Also, the House will consider the National Highway Bridge Reconstruction and Inspection Act (H.R. 3999). The legislation purports to ensure that America?s bridges that are functionally deficient or obsolete undergo replacement or rehabilitation. It also includes new regulation to require states to develop bridge inspection plans. Mike has proposed an amendment to this legislation to recommend that states develop corrosion prevention and mitigation plans prior to construction or rehabilitation of the bridges. Austin Weatherford- Legislative Assistant to Rep. Mike Conaway

Full post as published by Mike Conaway's Blog on July 22, 2008 (boomark / email).