Includes Housing Trust Fund!
Includes $3.9 Billion in CDBG funds!
Includes a 10% increase in tax credit allocations!
NJ Delegation votes 9-4 in favor!
On July 23, 2008, the House approved the bill by a vote of 272 to 152 H.R. 3221, the Housing and Economic Recovery Act of 2008.
Prior to the vote President Bush announced that he would sign the legislation citing an urgent need to restore market confidence in the two mortgage giants, Fannie Mae and Freddie Mac. tWith Mr. Bush’s support the bill will become law after final passage by the Senate, possibly Friday or Saturday.
Final details will be available later this week.
The New Jersey House delegation voted 9 to 4 in favor of the bill. The specific vote of each member was:
Aye NJ-1 Andrews, Robert [D]
Nay NJ-2 LoBiondo, Frank [R]
Nay NJ-3 Saxton, H. [R]
Aye NJ-4 Smith, Christopher [R]
Nay NJ-5 Garrett, E. [R]
Aye NJ-6 Pallone, Frank [D]
Aye NJ-7 Ferguson, Michael [R]
Aye NJ-8 Pascrell, William [D]
Aye NJ-9 Rothman, Steven [D]
Aye NJ-10 Payne, Donald [D]
Nay NJ-11 Frelinghuysen, Rodney [R]
Aye NJ-12 Holt, Rush [D]
Aye NJ-13 Sires, Albio [D]
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July 27th, 2008 at 10:22 am
[...] On July 26, 2008, the Senate approved bill by a vote of 72 to 12 H.R. 3221, the Housing and Economic Recovery Act of 2008. The President having rescinded his veto threat is expected sign the bill this week. This is the most significant and far reaching housing legislation since 1989. For more details click here. [...]