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Advocacy Blog
Tuesday, January 31, 2006
Shelby Says Expect a Vote on GSE Bill Later In the Session
From CQ:
On legislation overhauling regulation of Fannie Mae and Freddie Mac, the mortgage finance giants, Shelby voiced optimism that the bill (S 190) that his panel approved on a party-line vote last July would receive a Senate floor vote this year.
“Later in the session we will be in a position to pass the bill,” Shelby said.
The bill, which would create a new regulator for the government-sponsored enterprises (GSEs), has been stalled since the committee vote by differences on whether to restrict the companies’ massive investment portfolios. Shelby and most panel Republicans favor putting limits on the portfolios, which critics say increase risk in the financial markets. Others, including many Democrats, say portfolio limits would hurt the companies’ ability to carry out their mission to increase affordable housing.
Shelby said Tuesday that the portfolio debate was still a “big issue,” and declined to say whether he would be willing to compromise with Democrats to move a bill this year.
“Rest assured, we’re going to move a bill this year,” Shelby said.
For more on anti-advocacyprovisions in the GSE bill.
Posted by Jennifer Lowe
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