Housing Bill Could Hit the Floor This Week

Washington, D.C.–Proposed housing legislation may reach the Senate floor this week, according to Sen. Charles Schumer (D-N.Y.).Democratic leaders–who hope to wrap up the issue before the Fourth of July holiday–currently are trying to finalize Medicaid legislation, but if they can’t, “energy and housing legislation would be the two most likely” bills to come next this week, Schumer said.Designed to help prevent foreclosures, the housing bill would create a fund and institute new rules for federal regulators to monitor Fannie Mae and Freddie Mac, CBS News reports.Proposed by Banking Committee Chairman Sen. Chris Dodd (D-Conn.), the bill passed in the committee with a 19-2 vote on May 20.