2008-07-25 — reuters.com
The U.S. Senate voted on Friday to limit debate on a bill aimed at shoring up both the housing market and mortgage finance companies Fannie Mae and Freddie Mac, paving the way for a final vote expected on Saturday.
...
In addition to the throwing a lifeline to Fannie and Freddie, the sweeping legislation would authorize the Federal Housing Administration to refinance $300 billion of failing mortgages and provide communities hard-hit by home foreclosures with about $4 billion in federal aid.
The proposal also contains fresh tax incentives for prospective home buyers and bond investors to help put a floor under a housing market devastated by record foreclosures left in the wake of a multi-year boom.
Just what we need, more tax incentives for home buyers. Didn't that have something to do with us getting in this fix in the first place? Guess we'll never learn.
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