Saturday, April 19, 2008

Capitol Hill Update III

The House of Representatives passed the Jubilee Act, 285-132, which expands by some 25 countries the list of those poorest states eligible for debt relief, allowing them to divert scarce resources from loan repayment to health and education programs. The White House opposes the bill, but has not issues a veto threat. The House also overwhelmingly approved, 383-27, a bill calling for federal intervention to stabilize the student loan market amid turmoil brought on by the mortgage crisis. A bill similar to the House's is pending in the Senate, and the White House has voiced support for many of the provisions.

The Senate, meanwhile, voted 63-29 to direct the Justice Department to probe how a Florida road project made its way into a 2005 highway spending bill after the House and Senate voted on what lawmakers thought was the final version of the bill.

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