Saturday, April 05, 2008

Capitol Hill Update

The House of Representatives passed the global AIDS bill, 308-116, which authorized $5o billion in spending over the next five years. While more than the White House requested, there is no veto threat, and the bill moves to the Senate. Also, the House Commerce Committee overwhelmingly approved a bill to allow the FDA to regulate tobacco.

Senate Majority Leader Reid and Minority Leader McConnell announced a bi-partisan effort to tackle the housing crises, but Dem-backed provision that would allow bankruptcy judges to restructure mortgages was killed by a 58-36 vote. But in good news, HUD Secretary Alphonso Jackson announced his resignation Monday amid the wreckage of the subprime mortage controversy. He is accused of tilting the Department of Housing and Urban Development toward Republican contractors and cronies.

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