Democrat Housing Plan Not Winning Bush’s Approval
March 20, 2008
Washington, D.C.–The Bush administration said it is not currently negotiating with congressional Democrats on a proposal to reduce the housing slump with government funds, Bloomberg reports.However, Treasury Secretary Henry Paulson is “sympathetic” to the government-insured mortgage proposal by Senator Christopher Dodd and Congressman Barney Frank, according to Senator Charles Schumer, a New York Democrat.Lawmakers have…
Washington, D.C.–The Bush administration said it is not currently negotiating with congressional Democrats on a proposal to reduce the housing slump with government funds, Bloomberg reports.However, Treasury Secretary Henry Paulson is “sympathetic” to the government-insured mortgage proposal by Senator Christopher Dodd and Congressman Barney Frank, according to Senator Charles Schumer, a New York Democrat.Lawmakers have suggested the federal government pay to help struggling homeowners rework their loans, which would be an extension of Paulson’s voluntary mortgage lender agreement.However, both a Treasury official and a White House spokesman denied that the administration is open to accepting any proposals.
