On the recordFebruary 7, 2008
the Finance Committee, rightfully so, by an overwhelming bipartisan vote, agreed to include a provision in this legislation that is designed to help homeowners avoid foreclosures by allowing them to refinance. The President of the United States proposed this in his State of the Union Address, and this proposal has been championed by my friend, the distinguished junior Senator from Massachusetts, Mr. Kerry. It also would add $10 million in bonds that States could use to help address the serious housing crisis facing our country. They can sell homes that are in foreclosure or refinance loans. I commend Senator Kerry for getting this proposal added in the Finance Committee. It makes tremendous sense. I suggest it would be the right thing to do. The President supports it--or said he did in the Finance Committee--and I hope we can get agreement on it.
Source
govinfo.gov




