On Capitol Hill, Senate Republicans have blocked a Democratic measure addressing the nation’s housing crisis. The proposal would have allocated billions for communities to buy up subprime mortgages and allowed judges to lower interest rates for low-income homeowners. Lobbyists for the mortgage industry had waged a fierce campaign against the bill. Supporters failed to gather the sixty votes needed to avoid a Republican filibuster.
Senate GOPers Block Housing Measure
HeadlineFeb 29, 2008