Senate housing bill wins key test vote

[maddezmom]

Source: Reuters

WASHINGTON (Reuters) - The U.S. Senate on Tuesday voted overwhelmingly to proceed on a bill tackling the nation's housing market crisis with a range of tax breaks for corporations and some help for homeowners.

Final Senate action on the measure, which has a long list of possible amendments pending and is estimated to cost as much as $20 billion, was likely this week.

The bill easily surpassed the 60 votes needed for the Tuesday test vote, winning broad bipartisan support from 92 senators.

Montana Democratic Sen. Max Baucus, a supporter of the bill, said it "would help homeowners, homebuyers and homebuilders."



Read more: http://news.yahoo.com/s/nm/20080408/us_nm/usa_economy_housing_senate_dc;_ylt=Ar43KC7Jr_2UEdW9RgVw4P88KbIF

[laylah]

1. Ah yes...corporate welfare

is alive and well :mad: