John Sarbanes: “Finally, the bill helps encourage home ownership in two ways. First, as a result of an amendment offered by Senator…”

“Finally, the bill helps encourage home ownership in two ways. First, as a result of an amendment offered by Senator Dodd, our able colleague from Connecticut, public housing authorities will be able to devote part of their public housing capital funds to home ownership activities. In addition, section 8 assistance will be able to be used to support home ownership. Mr. President, I close again by thanking Senator Bond and Senator Mikulski for their very effective efforts. We are deeply appreciative of their cooperation. I again voice my respect for the tremendous leadership which Senator Mack provided in enabling us to achieve public housing reform which we have been striving to achieve for a number of years and to do it in a way that commands a consensus. The process we followed in working this out I really commend to all my colleagues. I think it is an example of how really to craft legislation and in the end achieve a very positive and constructive result. Finally, I want to recognize and thank the staff for their hard work and dedication.”