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Tuesday, February 26, 2008
Bush Admin. Threatens Vetoes of Housing, Energy Bills
Veni, Vedi ... Veti?
(Q: What is the plural of veto? Answer below)
Today, the Bush administration issued formal veto threats of two bills pending in Congress:
- The Foreclosure Prevention Act of 2008 (S. 2636) provides $200 million for pre-foreclosure counselling, allowance for state housing finance authorities to issue $10 billion in additional mortgage revenue bonds to refinance subprime loans and provide mortgages for first-time home buyers, and court-supervised modification of home mortgages in bankruptcy --a last provision that has sparked the most controversy -- indeed, it raises some thorney constitutional questions -- and the strongest objection from the White House
- The Renewable Energy and Energy Conservation Tax Act (H.R. 5351) provides $18.5 billion for several renewable and efficiency measures, including increased motor vehicle fuel economy standards and a sustainable biofuels mandate, offset entirely, funded mostly by eliminating some of the tax breaks for large oil companies (bill summary). "Industries should be taxed on a level playing field, and that field should be leveled by lowering rates, not by raising them," the White House said, in its veto threat of the bill
(A: a trick question -- there is no plural of veto; it's a verb, silly!)
Posted by Dana Chasin
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