U.S. Senate record vote 186, 110th Congress, Session 2

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Scored vote

Scorecard: Americans for Democratic Action 2008 Senate Scorecard

Org. position: Aye

Description:

"Reid (D-NV) motion to accept a House bill to grant authority to the Treasury Department to extend new credit and buy stock in Fannie Mae and Freddie Mac. It would create an independent regulator for the two mortgage giants and the Federal Home Loan Bank System, overhaul the Federal Housing Administration, allowing it to insure up to $300 billion worth of new, refinanced loans for struggling mortgage borrowers. It also includes a $7,500 tax credit for some first-time homebuyers, higher loan limits for FHA-backed loans, a standard tax deduction for property taxes and revenue-raisers to offset part of the costs. It also would authorize $3.9 billion in grants to states and localities to purchase and rehabilitate foreclosed properties, and increase the federal debt limit to $10.6 trillion."

(Original scorecard available at: http://www.adaction.org/pages/publications/voting-records.php)

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