[Congressional Record Volume 154, Number 76 (Thursday, May 8, 2008)]
[House]
[Pages H3191-H3202]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
NEIGHBORHOOD STABILIZATION ACT OF 2008
The SPEAKER pro tempore (Ms. Solis). Pursuant to House Resolution
1174 and rule XVIII, the Chair declares the House in the Committee of
the Whole House on the state of the Union for the further consideration
of the bill, H.R. 5818.
{time} 1018
In the Committee of the Whole
Accordingly, the House resolved itself into the Committee of the
Whole House on the state of the Union for the further consideration of
the bill (H.R. 5818) to authorize the Secretary of Housing and Urban
Development to make loans to States to acquire foreclosed housing and
to make grants to States for related costs, with Mr. McNulty (Acting
Chairman) in the chair.
The Clerk read the title of the bill.
The Acting CHAIRMAN. When the Committee of the Whole rose on
Wednesday, May 7, 2008, a request for a recorded vote on amendment No.
7 printed in House Report 110-621 by the gentleman from Pennsylvania
(Mr. Altmire) had been postponed.
Pursuant to clause 6 of rule XVIII, proceedings will now resume on
those amendments printed in House Report 110-621 on which further
proceedings were postponed, in the following order:
Amendment No. 4 by Mr. Hensarling of Texas.
Amendment No. 7 by Mr. Altmire of Pennsylvania.
The Chair will reduce to 5 minutes the time for any electronic vote
after the first vote in this series.
Amendment No. 4 Offered by Mr. Hensarling
The Acting CHAIRMAN. The unfinished business is the demand for a
recorded vote on the amendment offered by the gentleman from Texas (Mr.
Hensarling) on which further proceedings were postponed and on which
the noes prevailed by voice vote.
The Clerk will redesignate the amendment.
The text of the amendment is as follows:
Amendment No. 4 offered by Mr. Hensarling:
Page 2, line 10, strike ``and grant''.
Page 3, line 1, strike ``and grants''.
Page 3, line 10, strike ``AND GRANTS''.
Page 3, line 13, strike ``make grants under section 5(a) to
qualified States and''.
Page 3, lines 18 and 19, strike ``make a grant under this
Act only to a State, and may''.
Page 4, line 25, strike ``grant and''.
Page 5, line 3, strike ``grant and''.
Page 5, line 7, strike ``grant or''.
Page 6, line 8, strike ``grant and''.
Page 6, lines 21 and 22, strike ``grant amounts, and for''.
[[Page H3192]]
Page 7, line 1, strike ``grant or''.
Strike line 22 on page 8 and all that follows through page
9, line 2.
Page 9, line 9, strike ``Grant Amounts and''.
Page 9, line 11, strike ``grant amount or''.
Page 9, lines 12 and 13, strike ``foreclosure grant
share''.
Page 9, line 13, strike ``or''.
Page 9, lines 13 and 14, strike ``, respectively,''.
Page 9, line 20, strike ``grant amount or''.
Page 9, line 22, strike ``foreclosure grant share or''.
Page 9, line 23, strike ``, respectively,'' and ``the grant
amount or''.
Page 9, line 25, strike ``foreclosure grant share or''.
Page 10, line 1, strike ``, respectively,''.
Page 10, line 2, strike ``grant amounts or''.
Page 10, line 6, strike ``grant amounts or''.
Page 10, line 9, strike ``grant amount or''.
Page 10, line 11, strike ``grant amount or''.
Page 10, line 13, strike ``foreclosure grant share or''.
Page 10, line 14, strike ``, respectively''.
Page 10, line 16, strike ``grant or''.
Page 10, line 18, strike ``or grants''.
Strike line 23 on page 10 and all that follows through page
11, line 10.
Page 12, line 3, strike ``grant and''.
Page 12, strike lines 5 through 7.
Page 12, line 14, strike ``grant amounts and''.
Page 12, lines 17 and 18, strike ``such grant amounts
and''.
Page 12, line 19, strike ``grant amounts and''.
Page 12, line 20, strike ``, respectively,''.
Page 13, line 8, strike ``grant amounts and''.
Page 13, lines 11 and 12, strike ``grant amounts and''.
Page 13, line 13, strike ``grant amounts and''.
Page 13, line 14, strike ``, respectively,''.
Page 14, lines 1 and 2, strike ``grant and''.
Page 14, line 5, strike ``grant and''.
Page 14, line 8, strike ``grant and''.
Page 14, line 12, strike ``grant amounts and''.
Page 14, line 17, strike ``grant amounts and''.
Page 17, strike lines 21 through 25.
Strike line 18 on page 19 and all that follows through page
21, line 24.
Page 22, line 2, strike ``grant or''.
Strike line 12 on page 22 and all that follows through page
24, line 4.
Page 24, line 6, strike ``grant or''.
Page 24, lines 7 and 8, strike ``grant and''.
Page 24, line 23, strike ``or grant''.
Page 24, line 25, strike ``or grant''.
Page 27, line 13, strike ``grant or''.
Page 27, line 19, strike ``or grant''.
Page 28, lines 12 and 13, strike ``receives a grant under
this Act or''.
Page 28, lines 15 and 16, strike ``obligation of such grant
amounts and''.
Page 28, line 20, strike ``obligate all such grant amounts
and''.
Page 28, lines 24 and 25, strike ``outlay all such grant
amounts and''.
Page 30, line 3, strike ``a grant or'' and insert ``an''.
Page 30, line 13, strike ``grant or''.
Page 30, lines 14 and 15, strike ``grant or''.
Page 30, line 19, strike ``grant or''.
Page 35, strike lines 8 through 10.
Page 35, line 21, strike ``$7,500,000,000'' and insert
``$15,000,000,000''.
Recorded Vote
The Acting CHAIRMAN. A recorded vote has been demanded.
A recorded vote was ordered.
The vote was taken by electronic device, and there were--ayes 190,
noes 219, not voting 29, as follows:
[Roll No. 295]
AYES--190
Aderholt
Akin
Alexander
Bachmann
Bachus
Barrett (SC)
Bartlett (MD)
Barton (TX)
Biggert
Bilbray
Bilirakis
Bishop (UT)
Blackburn
Blunt
Boehner
Bonner
Bono Mack
Boozman
Boustany
Brady (TX)
Broun (GA)
Brown (SC)
Brown-Waite, Ginny
Buchanan
Burgess
Burton (IN)
Buyer
Calvert
Camp (MI)
Cannon
Cantor
Capito
Carter
Castle
Chabot
Coble
Cole (OK)
Conaway
Crenshaw
Culberson
Davis (KY)
Davis, David
Davis, Tom
Deal (GA)
Dent
Doolittle
Drake
Dreier
Duncan
Ehlers
Emerson
English (PA)
Everett
Fallin
Feeney
Ferguson
Flake
Forbes
Fortenberry
Fossella
Foxx
Franks (AZ)
Frelinghuysen
Gallegly
Garrett (NJ)
Gerlach
Gilchrest
Gingrey
Gohmert
Goodlatte
Granger
Graves
Hall (TX)
Hastings (WA)
Hayes
Heller
Hensarling
Herger
Hobson
Hoekstra
Hulshof
Hunter
Inglis (SC)
Issa
Johnson (IL)
Johnson, Sam
Jones (NC)
Jordan
Keller
King (IA)
King (NY)
Kingston
Kirk
Kline (MN)
Knollenberg
Kuhl (NY)
LaHood
Lamborn
Lampson
Latham
LaTourette
Latta
Lewis (CA)
Lewis (KY)
Linder
LoBiondo
Lucas
Lungren, Daniel E.
Mack
Manzullo
Marchant
McCarthy (CA)
McCaul (TX)
McCotter
McCrery
McHugh
McKeon
McMorris Rodgers
Mica
Miller (FL)
Miller (MI)
Miller, Gary
Moran (KS)
Musgrave
Myrick
Neugebauer
Nunes
Paul
Pearce
Pence
Peterson (PA)
Petri
Pickering
Pitts
Platts
Poe
Porter
Price (GA)
Pryce (OH)
Putnam
Radanovich
Ramstad
Regula
Rehberg
Reichert
Renzi
Reynolds
Rogers (AL)
Rogers (KY)
Rogers (MI)
Rohrabacher
Roskam
Royce
Ruppersberger
Ryan (WI)
Sali
Saxton
Scalise
Schmidt
Sensenbrenner
Sessions
Shadegg
Shays
Shimkus
Shuster
Simpson
Smith (NE)
Smith (NJ)
Smith (TX)
Souder
Stearns
Sullivan
Tancredo
Terry
Thornberry
Tiahrt
Tiberi
Upton
Walberg
Walden (OR)
Wamp
Weldon (FL)
Weller
Westmoreland
Whitfield (KY)
Wilson (NM)
Wilson (SC)
Wittman (VA)
Wolf
Young (FL)
NOES--219
Abercrombie
Ackerman
Allen
Altmire
Andrews
Baca
Baird
Baldwin
Becerra
Berkley
Berman
Berry
Bishop (NY)
Blumenauer
Bordallo
Boswell
Boucher
Boyd (FL)
Boyda (KS)
Brady (PA)
Braley (IA)
Brown, Corrine
Butterfield
Capps
Capuano
Cardoza
Carnahan
Carson
Castor
Cazayoux
Christensen
Clarke
Cleaver
Clyburn
Conyers
Costello
Courtney
Crowley
Cuellar
Cummings
Davis (AL)
Davis (CA)
Davis (IL)
Davis, Lincoln
DeFazio
DeGette
Delahunt
DeLauro
Diaz-Balart, L.
Diaz-Balart, M.
Dicks
Dingell
Doggett
Donnelly
Doyle
Edwards
Ellison
Ellsworth
Emanuel
Engel
Eshoo
Etheridge
Faleomavaega
Farr
Fattah
Filner
Fortuno
Foster
Frank (MA)
Gillibrand
Gonzalez
Gordon
Green, Al
Green, Gene
Grijalva
Gutierrez
Hall (NY)
Hare
Harman
Hastings (FL)
Herseth Sandlin
Higgins
Hinchey
Hinojosa
Hirono
Hodes
Holden
Holt
Honda
Hooley
Hoyer
Inslee
Israel
Jackson (IL)
Jackson-Lee (TX)
Jefferson
Johnson (GA)
Johnson, E. B.
Jones (OH)
Kagen
Kanjorski
Kaptur
Kennedy
Kildee
Kilpatrick
Kind
Klein (FL)
Kucinich
Langevin
Larsen (WA)
Larson (CT)
Lee
Levin
Lewis (GA)
Lipinski
Lofgren, Zoe
Lowey
Lynch
Maloney (NY)
Markey
Marshall
Matheson
Matsui
McCarthy (NY)
McCollum (MN)
McDermott
McGovern
McNerney
McNulty
Meek (FL)
Meeks (NY)
Michaud
Miller (NC)
Miller, George
Mitchell
Mollohan
Moore (WI)
Moran (VA)
Murphy (CT)
Murphy, Patrick
Murphy, Tim
Murtha
Nadler
Napolitano
Neal (MA)
Norton
Oberstar
Obey
Olver
Ortiz
Pallone
Pascrell
Pastor
Payne
Perlmutter
Peterson (MN)
Price (NC)
Rahall
Rangel
Reyes
Rodriguez
Ros-Lehtinen
Ross
Rothman
Roybal-Allard
Ryan (OH)
Salazar
Sanchez, Linda T.
Sanchez, Loretta
Sarbanes
Schakowsky
Schwartz
Scott (GA)
Scott (VA)
Serrano
Sestak
Shea-Porter
Sherman
Shuler
Sires
Skelton
Slaughter
Smith (WA)
Snyder
Solis
Speier
Spratt
Stark
Stupak
Sutton
Tanner
Tauscher
Taylor
Thompson (CA)
Thompson (MS)
Tierney
Towns
Tsongas
Turner
Udall (CO)
Udall (NM)
Van Hollen
Velazquez
Visclosky
Walsh (NY)
Walz (MN)
Wasserman Schultz
Waters
Watson
Watt
Waxman
Weiner
Welch (VT)
Wexler
Wilson (OH)
Woolsey
Wu
Wynn
Yarmuth
NOT VOTING--29
Arcuri
Barrow
Bean
Bishop (GA)
Boren
Campbell (CA)
Carney
Chandler
Clay
Cohen
Cooper
Costa
Cramer
Cubin
Giffords
Goode
Hill
Loebsack
Mahoney (FL)
McHenry
McIntyre
Melancon
Moore (KS)
Pomeroy
Richardson
Rush
Schiff
Space
Young (AK)
{time} 1045
Messrs. SERRANO, JOHNSON of Georgia, FARR, GORDON of Tennessee and
Ms. SPEIER, Ms. ROS-LEHTINEN, Ms. SLAUGHTER and Mrs. GILLIBRAND changed
their vote from ``aye'' to ``no.''
So the amendment was rejected.
The result of the vote was announced as above recorded.
Stated for:
Mr. POMEROY. Mr. Chairman, on May 8, 2008, I missed rollcall vote No.
295. Had I been present, I would have voted in the following manner:
Rollcall No. 295, ``yea.''
Mr. McINTYRE. Mr. Chairman, on rollcall No. 295, had I been present,
I would have voted ``no.''
Mr. SCHIFF. Mr. Chairman, on rollcall No. 295, had I been present, I
would have voted ``no.''
Mr. WESTMORELAND. Mr. Chairman, parliamentary inquiry.
The Acting CHAIRMAN. The gentleman may state his inquiry.
Mr. WESTMORELAND. Mr. Chairman, in light of the conversation that the
majority leader and the minority leader had last night as far as
leaving votes open, and I believe the majority leader said the vote
would be for 15 minutes, and then a 2-minute courtesy period, could you
tell me the tally of
[[Page H3193]]
the vote at the end of the 15 minutes and the 2-minute courtesy period?
The Acting CHAIRMAN. The gentleman has not stated a parliamentary
inquiry.
Point of Order
Mr. WESTMORELAND. Mr. Chairman, I make a point of order under clause
2(a) of rule XX that the vote just ended was held open for the sole
purpose of reversing the outcome.
The Acting CHAIRMAN. The Chair has considered whether the new
sentence in clause 2(a) of rule XX should be enforceable in real time.
The black letter of the rule is not dispositive. It uses the
mandatory ``shall.'' It might just as well say ``should,'' inasmuch as
it is setting a standard of behavior for presiding officers. For this
reason the Chair thinks it more sensible to enforce the rule on
collateral bases, as by a question of the privileges of the House.
A set of ``whereas'' clauses in the preamble of a resolution could
allege the facts and circumstances tending to indicate a violation more
coherently than they could be articulated in argument on a point of
order or in debate on an appeal. The resolving clause of a resolution
could propose a fitting remedy, rather than requiring the instant
selection of a remedy in the face of competing demands for vitiation of
the putative result, reversal of the putative result, or admonishment
of the presiding officer.
The Chair finds that the new sentence in clause 2(a) of rule XX does
not establish a point of order having an immediate procedural remedy.
Rather than contemplating a ruling from the Chair in real time, the
language should be understood to establish a standard of behavior for
presiding officers that might be enforced on collateral bases.
Mr. WESTMORELAND. Mr. Chairman, with that I appeal the ruling of the
Chair.
Mr. FRANK of Massachusetts. Mr. Chairman, I move to lay the appeal on
the table.
The Acting CHAIRMAN. The motion to lay on the table is not in order
in the Committee of the Whole.
The question is, Shall the decision of the Chair stand as the
judgment of the Committee?
The question was taken; and the Acting Chairman announced that the
noes appeared to have it.
Mr. FRANK of Massachusetts. Mr. Chairman, I demand a recorded vote.
A recorded vote was ordered.
The Acting CHAIRMAN. This 15-minute vote on sustaining the ruling of
the Chair will be followed by a 5-minute vote.
Mr. LINDER (during the vote). Mr. Chairman, I was standing right by
the gentleman who made the motion. The motion was to appeal the ruling
of the Chair.
Who changed the motion to sustaining it?
The Acting CHAIRMAN. The Chair would advise the gentleman from
Georgia that the Chair put the question correctly, that it is whether
the ruling of the Chair shall stand.
Mr. LINDER. That wasn't the motion. The motion was to appeal the
ruling of the Chair.
The Acting CHAIRMAN. The question that the Chair properly put was
whether the ruling of the Chair shall be sustained.
Mr. LINDER. Would you tell me who changed the ruling from ``appeal''
to ``sustain''?
The Acting CHAIRMAN. The Chair would advise the gentleman from
Georgia the question on appeal is, as always in the Committee of the
Whole, ``Shall the decision of the Chair stand as the judgment of the
Committee?''
The Chair understands that the display board initially said
``appealing the ruling of the Chair,'' which was incorrect. So for the
information of all Members of the House, in case of any
misapprehension, the question is on sustaining the ruling of the Chair,
not on whether an appeal shall take place.
Mr. LINDER. I ask unanimous consent that the vote be restarted.
Mr. SCOTT of Virginia. I object.
Mr. LINDER. I ask unanimous consent that we vacate this vote.
The Acting CHAIRMAN. Objection is heard.
Mr. LINDER. So moved.
The Acting CHAIRMAN. Such a motion is not in order.
Voting will resume. All Members are advised that the question is on
sustaining the ruling of the Chair. Adequate time will remain for any
Member who wishes to verify his or her vote.
Mr. LINDER. Mr. Chairman, I ask unanimous consent again that we
vacate the vote.
The Acting CHAIRMAN. Is there objection? The Chair hears none.
As soon as the Clerk is prepared, the pending vote will be vacated
and the Chair will put the question anew.
The question before the House is, Shall the decision of the Chair
stand as the judgment of the Committee?
The question was taken; and the Acting Chairman announced that the
ayes appeared to have it.
Recorded Vote
Mr. WALDEN of Oregon. Mr. Chairman, I demand a recorded vote.
A recorded vote was ordered.
The Acting CHAIRMAN. This 15-minute vote will be followed by a 5-
minute vote.
The vote was taken by electronic device, and there were--ayes 235,
noes 182, answered ``present'' 6, not voting 15, as follows:
[Roll No. 296]
AYES--235
Abercrombie
Ackerman
Allen
Altmire
Andrews
Arcuri
Baca
Baird
Baldwin
Barrow
Bean
Becerra
Berkley
Berman
Berry
Bishop (GA)
Bishop (NY)
Blumenauer
Boren
Boswell
Boucher
Boyd (FL)
Boyda (KS)
Brady (PA)
Braley (IA)
Brown, Corrine
Butterfield
Capps
Capuano
Cardoza
Carnahan
Carney
Carson
Castor
Cazayoux
Chandler
Christensen
Clarke
Clay
Cleaver
Clyburn
Conyers
Cooper
Costa
Costello
Courtney
Cramer
Crowley
Cuellar
Cummings
Davis (AL)
Davis (CA)
Davis (IL)
Davis, Lincoln
DeFazio
DeGette
Delahunt
DeLauro
Dicks
Dingell
Doggett
Donnelly
Doyle
Edwards
Ellison
Ellsworth
Emanuel
Engel
Eshoo
Etheridge
Faleomavaega
Farr
Fattah
Filner
Foster
Frank (MA)
Giffords
Gillibrand
Gonzalez
Goode
Gordon
Green, Al
Green, Gene
Grijalva
Gutierrez
Hall (NY)
Hare
Harman
Hastings (FL)
Herseth Sandlin
Higgins
Hill
Hinchey
Hinojosa
Hirono
Hodes
Holden
Holt
Honda
Hooley
Hoyer
Inslee
Israel
Jackson (IL)
Jackson-Lee (TX)
Jefferson
Johnson (GA)
Johnson (IL)
Johnson, E. B.
Jones (NC)
Jones (OH)
Kagen
Kanjorski
Kaptur
Kennedy
Kildee
Kilpatrick
Kind
Klein (FL)
Kucinich
LaHood
Lampson
Langevin
Larsen (WA)
Larson (CT)
Lee
Levin
Lewis (GA)
Lipinski
Lofgren, Zoe
Lowey
Lynch
Mahoney (FL)
Maloney (NY)
Markey
Marshall
Matheson
Matsui
McCollum (MN)
McDermott
McGovern
McIntyre
McNerney
McNulty
Meek (FL)
Meeks (NY)
Melancon
Michaud
Miller (NC)
Mitchell
Mollohan
Moore (KS)
Moore (WI)
Moran (VA)
Murphy (CT)
Murphy, Patrick
Murtha
Nadler
Napolitano
Neal (MA)
Norton
Oberstar
Obey
Olver
Ortiz
Pallone
Pascrell
Pastor
Payne
Perlmutter
Peterson (MN)
Pomeroy
Price (NC)
Rahall
Rangel
Reyes
Rodriguez
Ross
Rothman
Roybal-Allard
Ruppersberger
Ryan (OH)
Salazar
Sanchez, Linda T.
Sanchez, Loretta
Sarbanes
Schakowsky
Schiff
Schwartz
Scott (GA)
Scott (VA)
Serrano
Sestak
Shea-Porter
Sherman
Shuler
Sires
Skelton
Slaughter
Smith (WA)
Snyder
Solis
Space
Speier
Spratt
Stark
Stupak
Sutton
Tanner
Tauscher
Taylor
Thompson (CA)
Thompson (MS)
Tierney
Towns
Tsongas
Udall (CO)
Udall (NM)
Van Hollen
Velazquez
Visclosky
Walz (MN)
Wasserman Schultz
Waters
Watson
Watt
Waxman
Weiner
Welch (VT)
Wexler
Wilson (OH)
Woolsey
Wynn
Yarmuth
Young (FL)
NOES--182
Aderholt
Akin
Alexander
Bachmann
Barrett (SC)
Bartlett (MD)
Barton (TX)
Biggert
Bilbray
Bilirakis
Bishop (UT)
Blackburn
Blunt
Bonner
Bono Mack
Boozman
Boustany
Brady (TX)
Broun (GA)
Brown (SC)
Brown-Waite, Ginny
Buchanan
Burgess
Burton (IN)
Buyer
Calvert
Camp (MI)
Cannon
Cantor
Capito
Carter
Castle
Chabot
Coble
Cole (OK)
Conaway
Crenshaw
Cubin
Culberson
Davis (KY)
Davis, David
Davis, Tom
Deal (GA)
Dent
Diaz-Balart, L.
Diaz-Balart, M.
Doolittle
Drake
Dreier
Duncan
Ehlers
Emerson
English (PA)
Everett
Fallin
Feeney
Ferguson
Flake
Forbes
Fortenberry
Fortuno
Fossella
Foxx
Franks (AZ)
Frelinghuysen
Gallegly
Garrett (NJ)
Gerlach
Gingrey
Gohmert
Goodlatte
Granger
Graves
Hall (TX)
Hastings (WA)
Hayes
Heller
Hensarling
Herger
Hobson
[[Page H3194]]
Hoekstra
Inglis (SC)
Issa
Johnson, Sam
Jordan
Keller
King (IA)
King (NY)
Kingston
Kirk
Kline (MN)
Knollenberg
Kuhl (NY)
Lamborn
Latham
Latta
Lewis (CA)
Lewis (KY)
Linder
LoBiondo
Lucas
Mack
Manzullo
Marchant
McCarthy (CA)
McCaul (TX)
McCotter
McCrery
McHenry
McHugh
McKeon
McMorris Rodgers
Mica
Miller (FL)
Miller (MI)
Miller, Gary
Moran (KS)
Murphy, Tim
Musgrave
Myrick
Neugebauer
Nunes
Pearce
Peterson (PA)
Petri
Pitts
Poe
Porter
Price (GA)
Pryce (OH)
Putnam
Radanovich
Ramstad
Regula
Rehberg
Reichert
Renzi
Reynolds
Rogers (AL)
Rogers (KY)
Rogers (MI)
Ros-Lehtinen
Roskam
Royce
Ryan (WI)
Sali
Saxton
Scalise
Schmidt
Sensenbrenner
Sessions
Shadegg
Shays
Shimkus
Shuster
Simpson
Smith (NE)
Smith (NJ)
Smith (TX)
Souder
Stearns
Sullivan
Tancredo
Terry
Thornberry
Tiahrt
Tiberi
Turner
Upton
Walberg
Walden (OR)
Walsh (NY)
Wamp
Weldon (FL)
Weller
Westmoreland
Whitfield (KY)
Wilson (NM)
Wilson (SC)
Wittman (VA)
Wolf
Young (AK)
ANSWERED ``PRESENT''--6
Gilchrest
Hulshof
LaTourette
Lungren, Daniel E.
Pence
Rohrabacher
NOT VOTING--15
Bachus
Boehner
Bordallo
Campbell (CA)
Cohen
Hunter
Loebsack
McCarthy (NY)
Miller, George
Paul
Pickering
Platts
Richardson
Rush
Wu
{time} 1121
Mr. ISSA changed his vote from ``aye'' to ``no.''
So the decision of the Chair stands as the judgment of the Committee.
The result of the vote was announced as above recorded.
Amendment No. 7 Offered by Mr. Altmire
The Acting CHAIRMAN. The unfinished business is the demand for a
recorded vote on the amendment offered by the gentleman from
Pennsylvania (Mr. Altmire) on which further proceedings were postponed
and on which the ayes prevailed by voice vote.
The Clerk will redesignate the amendment.
The text of the amendment is as follows:
Amendment No. 7 offered by Mr. Altmire:
Page 36, after line 2, insert the following new section:
SEC. 15. INELIGIBLITY OF ILLEGAL ALIENS FOR ASSISTANCE.
Aliens who are not lawfully present in the United States
shall be ineligible for financial assistance under this Act,
as provided and defined by section 214 of the Housing and
Community Development Act of 1980 (42 U.S.C. 1436a). Nothing
in this Act shall be construed to alter the restrictions or
definitions in such section 214.
Page 36, line 3, strike ``15'' and insert ``16''.
Recorded Vote
The Acting CHAIRMAN. A recorded vote has been demanded.
A recorded vote was ordered.
The Acting CHAIRMAN. This will be a 5-minute vote.
The vote was taken by electronic device, and there were--ayes 391,
noes 33, not voting 14, as follows:
[Roll No. 297]
AYES--391
Abercrombie
Ackerman
Aderholt
Akin
Alexander
Allen
Altmire
Andrews
Arcuri
Bachmann
Bachus
Barrett (SC)
Barrow
Bartlett (MD)
Barton (TX)
Bean
Becerra
Berkley
Berman
Berry
Biggert
Bilbray
Bilirakis
Bishop (GA)
Bishop (NY)
Bishop (UT)
Blackburn
Blumenauer
Blunt
Boehner
Bonner
Bono Mack
Boozman
Boren
Boswell
Boucher
Boustany
Boyd (FL)
Boyda (KS)
Brady (PA)
Brady (TX)
Braley (IA)
Broun (GA)
Brown (SC)
Brown, Corrine
Brown-Waite, Ginny
Buchanan
Burgess
Burton (IN)
Butterfield
Buyer
Calvert
Camp (MI)
Cannon
Cantor
Capito
Capps
Capuano
Cardoza
Carnahan
Carney
Carson
Carter
Castle
Castor
Cazayoux
Chabot
Chandler
Christensen
Clay
Cleaver
Clyburn
Coble
Cole (OK)
Conaway
Conyers
Cooper
Costa
Costello
Courtney
Cramer
Crenshaw
Cubin
Cuellar
Culberson
Davis (AL)
Davis (CA)
Davis (IL)
Davis (KY)
Davis, David
Davis, Lincoln
Davis, Tom
Deal (GA)
DeFazio
DeGette
Delahunt
DeLauro
Dent
Dicks
Dingell
Doggett
Donnelly
Doolittle
Doyle
Drake
Dreier
Duncan
Edwards
Ehlers
Ellsworth
Emanuel
Emerson
Engel
English (PA)
Eshoo
Etheridge
Everett
Faleomavaega
Fallin
Fattah
Feeney
Ferguson
Flake
Forbes
Fortenberry
Fortuno
Fossella
Foster
Foxx
Frank (MA)
Franks (AZ)
Frelinghuysen
Gallegly
Garrett (NJ)
Gerlach
Giffords
Gilchrest
Gillibrand
Gingrey
Gohmert
Goode
Goodlatte
Gordon
Granger
Graves
Green, Al
Green, Gene
Hall (NY)
Hall (TX)
Hare
Harman
Hastings (FL)
Hastings (WA)
Hayes
Heller
Hensarling
Herger
Herseth Sandlin
Higgins
Hill
Hinchey
Hinojosa
Hobson
Hodes
Hoekstra
Holden
Holt
Hooley
Hoyer
Hulshof
Hunter
Inglis (SC)
Inslee
Israel
Issa
Jackson (IL)
Jefferson
Johnson (IL)
Johnson, E. B.
Johnson, Sam
Jones (NC)
Jones (OH)
Jordan
Kagen
Kanjorski
Kaptur
Keller
Kennedy
Kildee
Kilpatrick
Kind
King (IA)
King (NY)
Kingston
Kirk
Klein (FL)
Kline (MN)
Knollenberg
Kuhl (NY)
LaHood
Lamborn
Lampson
Langevin
Larsen (WA)
Larson (CT)
Latham
LaTourette
Latta
Levin
Lewis (CA)
Lewis (GA)
Lewis (KY)
Linder
Lipinski
LoBiondo
Lofgren, Zoe
Lowey
Lucas
Lungren, Daniel E.
Lynch
Mack
Mahoney (FL)
Maloney (NY)
Manzullo
Marchant
Markey
Marshall
Matheson
Matsui
McCarthy (CA)
McCaul (TX)
McCollum (MN)
McCotter
McHenry
McHugh
McIntyre
McKeon
McMorris Rodgers
McNerney
McNulty
Meek (FL)
Meeks (NY)
Melancon
Mica
Michaud
Miller (FL)
Miller (MI)
Miller (NC)
Miller, Gary
Mitchell
Mollohan
Moore (KS)
Moran (KS)
Murphy (CT)
Murphy, Patrick
Murphy, Tim
Murtha
Musgrave
Myrick
Nadler
Neal (MA)
Neugebauer
Norton
Nunes
Oberstar
Obey
Ortiz
Pallone
Pascrell
Paul
Payne
Pearce
Pence
Perlmutter
Peterson (MN)
Peterson (PA)
Petri
Pitts
Platts
Poe
Pomeroy
Porter
Price (GA)
Price (NC)
Pryce (OH)
Putnam
Radanovich
Rahall
Ramstad
Rangel
Regula
Rehberg
Reichert
Renzi
Reyes
Reynolds
Rodriguez
Rogers (AL)
Rogers (KY)
Rogers (MI)
Rohrabacher
Roskam
Ross
Rothman
Roybal-Allard
Royce
Ruppersberger
Ryan (OH)
Ryan (WI)
Salazar
Sali
Sarbanes
Saxton
Scalise
Schiff
Schmidt
Schwartz
Scott (GA)
Scott (VA)
Sensenbrenner
Sessions
Sestak
Shadegg
Shays
Shea-Porter
Sherman
Shimkus
Shuler
Shuster
Simpson
Sires
Skelton
Slaughter
Smith (NE)
Smith (NJ)
Smith (TX)
Smith (WA)
Snyder
Souder
Space
Speier
Spratt
Stearns
Stupak
Sullivan
Tancredo
Tanner
Tauscher
Taylor
Terry
Thompson (CA)
Thompson (MS)
Thornberry
Tiahrt
Tiberi
Tierney
Towns
Tsongas
Turner
Udall (CO)
Udall (NM)
Upton
Van Hollen
Velazquez
Visclosky
Walberg
Walden (OR)
Walsh (NY)
Walz (MN)
Wamp
Wasserman Schultz
Waters
Watson
Watt
Waxman
Weiner
Weldon (FL)
Weller
Westmoreland
Wexler
Whitfield (KY)
Wilson (NM)
Wilson (OH)
Wilson (SC)
Wittman (VA)
Wolf
Wu
Wynn
Yarmuth
Young (AK)
Young (FL)
NOES--33
Baca
Baldwin
Clarke
Crowley
Diaz-Balart, L.
Diaz-Balart, M.
Ellison
Farr
Filner
Gonzalez
Grijalva
Gutierrez
Hirono
Honda
Johnson (GA)
Kucinich
Lee
McDermott
McGovern
Moore (WI)
Moran (VA)
Napolitano
Olver
Pastor
Ros-Lehtinen
Sanchez, Linda T.
Sanchez, Loretta
Schakowsky
Serrano
Solis
Stark
Sutton
Woolsey
NOT VOTING--14
Baird
Bordallo
Campbell (CA)
Cohen
Cummings
Jackson-Lee (TX)
Loebsack
McCarthy (NY)
McCrery
Miller, George
Pickering
Richardson
Rush
Welch (VT)
Announcement by the Acting Chairman
The Acting CHAIRMAN (during the vote). Members have less than 1
minute remaining to vote.
{time} 1130
Mr. ELLISON changed his vote from ``aye'' to ``no.''
So the amendment was agreed to.
The result of the vote was announced as above recorded.
Personal Explanation
Mr. McCARTHY of New York. Mr. Chairman, earlier today I was
questioning witnesses on the arts and humanities as Chairwoman of the
Healthy Families and Communities Subcommittee of the Education and
Labor Committee. I missed two votes. I would like the Record to reflect
how I would have voted had I been able to get to the floor in time.
Rollcall No. 296 on sustaining the ruling of the chair, I would have
voted ``aye.''
Rollcall No. 297 on the Altmire amendment to H.R. 5818, I would have
voted ``aye.''
PERSONAL EXPLANATION
Ms. BORDALLO. Mr. Chairman, I was unavoidable detained in a meeting
earlier today, May 8, 2008, in the other body regarding legislation I
have sponsored, and, therefore, was absent from the Chamber when
rollcall votes 296 and 297 were taken. Had I been present for these two
votes taken in the Committee of the Whole House on the State of the
Union,
[[Page H3195]]
I would have voted as follows: ``aye'' to sustain the ruling of the
Chair (rollcall vote 296) and ``aye'' on the amendment offered by Mr.
Altmire of Pennsylvania to H.R. 5818 (rollcall vote 297).
Mr. DINGELL. Mr. Chairman, this legislation represents a fair,
commonsense solution that will give assistance to communities
struggling to deal with the problem of vacant homes, help stabilize the
housing market, and help low income families obtain a home they can
afford and be proud of.
The Neighborhood Stabilization Act will make available to communities
throughout the Nation $15 billion in new zero interest loans and grants
for the purchase and rehabilitation of foreclosed properties. State and
local governments have been hit hard by the foreclosure crisis not only
because they have been stuck with the bill for maintaining and securing
vacant homes, but also because they face decreased property tax
revenues. Not only are these properties off the tax rolls, but empty
houses drive down the value of other homes in the neighborhood which
further decreases tax revenues.
Just as important, this bill will get these homes occupied by
families who truly need them. A priority will be given to low income
families, families who have lost a home through foreclosure, as well as
first responders, veterans, public school teachers, and homeless
persons.
This measure will bring almost $600 million in assistance to the
State of Michigan at a time when it is badly needed. Michigan has been
particularly hard hit by the President's misguided economic policies,
most especially his failure to address the foreclosure crisis. I
sincerely hope that the President, who approved a $30 billion bailout
for the investment bank Bear Steams, will see to it to sign and
implement this bill which will provide much needed assistance to State
and local governments.
Mrs. JONES of Ohio. Mr. Chairman, I rise today in support of this
housing package because it is imperative that Congress take action to
assist homeowners struggling today. The epidemic of home losses in this
country is severe, with the impact not only causing harm to the
families who lose their homes, but also affecting nearby homeowners who
suffer drops in their property values and communities who suffer the
impact of lower tax revenues.
Nationally, the number of seriously delinquent loans and new
foreclosures in January and February of this year was over 2.1 million,
an increase of 8 percent over the previous quarter and a 55 percent
increase from a year earlier.
The housing crisis has severely impacted my congressional district,
particularly the city of Cleveland, Ohio. Cleveland's weak housing
market coupled with a housing over-supply has created a large number of
foreclosures and abandoned properties. As of December 2007, the number
of properties in Cleveland identified as abandoned, nuisance properties
was 8,588. According to the Cleveland Department of Community
Development, the estimated number of homes entering the tax foreclosure
pool in 2008 was 1,000--with 900 homes within this pool requiring
public demolition. These abandoned and foreclosed properties exist in
every neighborhood in Cleveland, but there are concentrations in
communities in my district where the real estate market has completely
collapsed.
I support this housing package because it will greatly assist my
constituents in Cleveland as well as thousands of Americans across the
country by helping families stay in their homes while they repay their
mortgage debt. This legislation will also help avoid the decreased
property values and increased crime rates that often come with
concentrations of foreclosed and abandoned properties.
I wish to thank Chairman Rangel and Ranking Member McCrery as well as
Chairman Frank and Subcommittee Chair Waters for their work on these
important pieces of legislation. I am extremely pleased that sections
of H.R. 1043, the Community Restoration and Revitalization Act, a piece
of legislation I have introduced for the past two Congresses, was
incorporated into the housing legislation before us today.
This bill simplifies the Federal Historic Rehabilitation Tax Credit,
``Rehab Credit'' thereby making it easier to utilize the credit for
revitalizing our nation's older neighborhoods, harnessing greater
housing potential in underutilized historic and older buildings, and
focusing more private sector investment in smaller, ``main street''
oriented commercial structures.
The language in the bill that explicitly refers to the ``historic
nature'' of development projects is important because, for the first
time, it directs state housing agencies to create a priority within
their qualified allocation plans for historic properties that can be
converted to affordable housing through the use of both the Low-Income
Housing Tax Credit and the Federal historic tax credit.
Additionally, the bill simplifies the rules for nonprofit and
government agencies who sponsor or rent space in historic tax credit
projects and significantly lowers the cost of these transactions.
In addition to simplifying the Rehab Tax Credit, the bill would also
facilitate coordination of the credit with the Low-Income Housing Tax
Credit by exempting both credits from the restrictions of the AMT
rules.
Since its inception, the rehab credit has been responsible for 133
residential and commercial projects in the city of Cleveland,
leveraging about $760 million of private investment. Because of the
credit, downtown Cleveland and neighborhoods like the Warehouse
District, the Gateway District, and East Fourth Street are being
revitalized--pumping more investment into the region and revenue to the
city and State. This legislation is crucial to furthering the economic
development of Cleveland and the State of Ohio.
My hope is that as we move forward we shall have the other important
parts of H.R. 1043 enacted, as well as further simplification and
clarification of the regulations regarding nonprofit and government use
of historic buildings rehabilitated with the help of the Federal
historic tax credit.
I urge my colleagues to support the passage of this housing package.
Mr. UDALL of Colorado. Mr. Chairman, I rise in support of H.R. 5818,
the Neighborhood Stabilization Act of 2008. This bill would provide $15
billion in loans and grants, administered by the U.S. Department of
Housing and Urban Development, for States to buy and, rehabilitate
foreclosed and vacated housing properties in order to resell or rent
them out.
While I have some reservations about the balance in this bill between
loans and grants, I think the potential threat to the value of American
homes and the safety of our communities justifies the overall cost.
Studies have shown that home foreclosures adversely affect the value of
other homes in the same neighborhood, and the rate of home foreclosures
in a neighborhood directly corresponds to a spike in crime in that
neighborhood. In many cases, foreclosed and vacated homes have become
the dens of vagrants, drug addicts and drug dealers.
H.R. 5818 attempts to reduce the likelihood of these problems by
helping States buy and refurbish foreclosed and vacated housing
properties to make them an appealing choice for qualified families to
buy or rent. In addition, this legislation includes provisions to
protect against housing speculator abuse by requiring that homes
purchased and refurbished by a State be resold to families whose income
does not exceed 140 percent of the area median income. This bill offers
further targeted assistance for those Americans who need it most by
requiring that half of the bill's grant money be dedicated to housing
families at or below 50 percent area median income.
Finally, H.R. 5818 will direct funds to the States with the greatest
need. Under this bill, each State's loan and grant authority would be
based on the State's percentage of nationwide foreclosures reported
during the previous four calendar quarters. This is a significant point
for my home State of Colorado, which has consistently ranked among the
top 10 States in percentage of foreclosures.
Mr. Chairman, this bill is a good measure that deserves our support.
As I previously stated, the benefits of this legislation outweigh my
concerns over its cost, and I urge my colleagues to join me in
supporting it.
The Acting CHAIRMAN. The question is on the committee amendment in
the nature of a substitute, as amended.
The committee amendment in the nature of a substitute, as amended,
was agreed to.
The Acting CHAIRMAN. Under the rule, the Committee rises.
Accordingly, the Committee rose; and the Speaker pro tempore (Mr.
Weiner) having assumed the chair, Mr. McNulty, Acting Chairman of the
Committee of the Whole House on the State of the Union, reported that
that Committee, having had under consideration the bill (H.R. 5818) to
authorize the Secretary of Housing and Urban Development to make loans
to States to acquire foreclosed housing and to make grants to States
for related costs, pursuant to House Resolution 1174, reported the bill
back to the House with an amendment adopted by the Committee of the
Whole.
The SPEAKER pro tempore. Under the rule, the previous question is
ordered.
Is a separate vote demanded on any amendment to the amendment
reported from the Committee of the Whole? If not, the question is on
the amendment.
The amendment was agreed to.
The SPEAKER pro tempore. The question is on the engrossment and third
reading of the bill.
The bill was ordered to be engrossed and read a third time, and was
read the third time.
[[Page H3196]]
Motion to Recommit Offered by Mr. Shadegg
Mr. SHADEGG. Mr. Speaker, I have a motion at the desk.
The SPEAKER pro tempore. Is the gentleman opposed to the bill?
Mr. SHADEGG. I am in its present form.
The SPEAKER pro tempore. The Clerk will report the motion to
recommit.
The Clerk read as follows:
Mr. Shadegg moves to recommit the bill H.R. 5818 to the
Committee on Financial Services with instructions to report
the same back to the House promptly in the form to which it
may be perfected at the time of this motion with the
following amendments:
Page 6, line 3, before ``provide'' insert ``subject to any
preferences as may be specifically set forth in this
subsection with respect to amounts for housing rehabilitation
and to the preferences required under the last two paragraphs
of this subsection,''.
Page 6, line 15, strike ``for veterans,''.
Page 6, strike ``or providing'' in line 18 and all that
follows through ``located'' in line 20 and insert the
following: ``except that preferences established pursuant to
this paragraph shall be subordinate to any preferences as may
be specifically set forth in this subsection with respect to
amounts for housing rehabilitation and to the preferences
required under the last two paragraphs of this subsection''.
Page 6, line 24, strike ``and''.
Page 7, line 5, strike the period and insert a semicolon.
Page 7, after line 5, insert the following:
(14) subject only to any preferences as may be specifically
set forth in this subsection with respect to amounts for
housing rehabilitation and to the last paragraph of this
subsection and notwithstanding any other preferences
established or authorized by this subsection, provide
priority preference, in use of amounts from grants or loans
under this Act, for providing housing for veterans and for
teachers or workforce (including law enforcement officers,
firefighters, and other first responders) who are employed by
the city or locality in which the housing is located; and
(15) provide that in carrying out any other provision of
this subsection that provides preference, in the use of
amounts from grants or loans under this Act (or any portion
of such amounts), for providing housing for veterans and
other classes, highest preference shall be provided for
providing housing for disabled veterans, and then preference
shall be given to providing housing for other veterans and
such other classes; and
Page 27, after line 16, insert the following:
(k) Limitation on Residency.--No individual may purchase or
lease any qualified foreclosed housing that was acquired
using any amounts provided under a grant or loan under this
Act, or any dwelling unit in any such qualified foreclosed
housing, if such individual has been convicted under Federal
or State law of a drug-dealing offense, a sex offense, or
mortgage fraud.
The SPEAKER pro tempore. The gentleman from Arizona is recognized for
5 minutes.
Mr. SHADEGG. Mr. Speaker, this legislation is flawed in many
respects. It provides $7.5 billion in loans to cities, States, and
nonprofits to buy foreclosed homes from mortgage lenders who made bad
loans. That will not help people avoid foreclosures. In addition, it
provides $7.5 billion in grants to rehabilitate those homes. As such,
it is a giveaway to the mortgage industry that made bad loans.
Nonetheless, Mr. Speaker, this motion to recommit is a genuine
attempt to improve this bill. If the majority insists on going down
this path, the least we can do is to give those who have served our
Nation the highest priority in receiving housing assistance under this
legislation, and to make sure that those who have preyed upon our
society as criminals are not helped by the legislation.
In its present form, the bill allows homes acquired and rehabilitated
with taxpayer money to be purchased by convicted drug dealers,
convicted sex offenders, and people who have been convicted of mortgage
fraud.
Last night our colleague, Mr. Altmire, offered an amendment that
prohibits homes made available for sale under this bill, acquired and
rehabilitated with taxpayer dollars, from being sold to illegal
immigrants. That was a good amendment and I am glad to see that the
House just now overwhelmingly adopted it.
In advocating for his amendment, Mr. Altmire said that homes made
available through this bill should be available only to law abiding
U.S. citizens.
My colleagues, Mr. Altmire is right. This motion to recommit brings
the same commonsense to this bill that Mr. Altmire's amendment did. It
simply says that homes made available under the bill cannot be sold to
drug dealers, sex offenders, or people convicted of mortgage fraud.
I ask my colleagues, imagine how you would feel if your taxes were
taken under this legislation and used by the government to purchase
foreclosed homes, then to rehabilitate a foreclosed home in your
neighborhood, and then if that house was put on the market and sold by
the government to a convicted drug dealer, a convicted sex offender, or
person guilty of fraud in the mortgage industry who contributed to the
very housing turmoil we are now faced with. You would be outraged, and
you should be. We cannot let that happen under this legislation.
The second provision of the motion to recommit corrects another
defect in the bill. Yesterday an amendment was offered to provide
veterans and public safety officers such as firemen and police with a
preference in purchasing homes made available under this bill. The
chairman of the committee quite appropriately accepted that amendment.
But we can do better than that. This motion to recommit takes that
concept one step further. It provides that disabled American veterans
are to be accorded an even higher preference in acquiring homes under
this legislation.
Mr. Speaker, every Member in this body is aware tragically that
American soldiers are returning with horrific wounds. Like many of you,
I have been to Landstuhl Hospital in Germany and visited our fighting
men and women. I have been to Walter Reed Army Hospital and visited
them. It is wonderful that we can save their lives, but this motion to
recommit recognizes and rewards their sacrifices. It provides that
disabled veterans, seeking to purchase a home made available under this
legislation, must be given first preference.
Mr. Speaker, these are commonsense changes to this bill that will
improve it, and I urge my colleagues to adopt them by passing this
motion to recommit.
I yield back the balance of my time.
Mr. FRANK of Massachusetts. Mr. Speaker, I rise to speak in
opposition to the motion to recommit.
The SPEAKER pro tempore. The gentleman is recognized for 5 minutes.
Mr. FRANK of Massachusetts. Mr. Speaker, I hope we are here seriously
to legislate. The effect of adopting this will be to make it much less
likely that veterans will get the preference. Now I understand the
frustration of Members on the other side. The gentleman from Michigan
(Mr. McCotter) offered an amendment yesterday, notwithstanding any
other preferences, first priority to veterans, members of the Armed
Forces on active duty, members of the National Guard or Armed Forces
reserves, school teachers and emergency responders. That is now in the
bill. That is part of the bill.
The gentleman phrased his motion as ``promptly.'' Now we have already
seen the kind of delay tactics that the minority has been prone to use.
Send this back to committee, and you are very unlikely to get it back
on the floor in a way in which we can pass it. So last night we adopted
preference for veterans. Today, in the guise of redoing what we have
already done, a motion is offered that will keep veterans from
benefiting from that preference because the bill won't go anywhere.
The gentleman was honest. He began by saying he doesn't like this
bill. And since a head-on assault will not pass--no, I will not yield.
I will explain why I won't yield. I won't yield because I have
consistently, when I was chairing the committee, been open to
amendments. I have yielded. But when at the last minute with zero
notice something is drafted with no chance to discuss it, and they use
their full 5 minutes, of course I won't give up the small amount of
time we have. It is already inadequate to discuss this.
So this will prevent the veterans from getting the preferences they
already have. You have seen what can happen with these delays. We have
preference for veterans in this bill.
Now let me say procedurally, if this had said ``forthwith,'' I would
have been less concerned about it. But there is also this: during the
markup of this bill, we accepted nine Republican amendments. Yesterday
we accepted several Republican amendments. If I was seriously
interested in helping the people who are to be the beneficiaries,
[[Page H3197]]
I would have offered an amendment at the Rules Committee, and we would
have accepted it. I would not have waited to say ``promptly'' so that I
would have used the disabled veterans as a way to kill the bill.
Similarly, with regard to mortgage fraud--and by the way, this is
through the cities. If you think that the cities are going to give out
money to rapists, worry about it.
I would be prepared, if this would have been put forward in an
orderly way so we could vet it and not have unintended consequences as
we did with the last recommit on a bill from our committee, we could
have accepted it.
As we go forward, and let me say further in conference with the
Senate, yes, I think we ought to make it explicit that people with
mortgage fraud don't get it, as well as certain kinds of sex offenders.
Yes, I think we can do these things, and we will do them going forward.
But to take it now with a ``promptly,'' designed to kill the bill,
and it will in fact undo, take back the veterans' preferences we gave
yesterday, and to use disabled veterans and to use concern for the law
as a cover to kill a bill for which the votes do not exist to kill it
is the wrong way to go.
We have amended this bill. Nine amendments were accepted in
committee. None of these were offered. Had they been, they would have
substantially been accepted, and they can be accepted going forward.
But you have seen, my colleagues, what has gone on here. Send this back
to committee, we have to go back to committee. We have rules to deal
with. You have a crowded agenda in the committee. You will not see this
bill again probably for weeks, and we will again have these tactics.
The gentleman from Georgia is going to raise the point that it can
come out the next day. It cannot. The rules of the House do not allow
it. And anyone who thinks you are going to get unanimous consent from
this group to waive four and five rules is not paying attention. After
we just had two votes on an appeal of a ruling, a frivolous appeal, and
we get an appeal of the appeal because people didn't like the wording
on the board, you tell me if you think we are going to get serious
legislative efforts.
{time} 1145
So, yeah, I want veterans preferences in the bill. Going forward, we
can address this. But Members who are worried about some kind of ad
long before your election, the sensible parts of this will be embodied
in the bill. You will have a chance to vote to protect against mortgage
fraud, et cetera. But vote for this today.
And as the gentleman from Arizona made clear, he doesn't like the
bill. And I understand the problem the President has. The
administration can't decide whether it wants to sign or veto. There are
internal debates, so it falls to our Republican colleagues to save this
President from having to make the decision.
I urge my colleagues not to fall for that partisan ploy. Vote down
this effort to delay, and perhaps delay indefinitely this bill. We
will, going forward, take the good parts of it and incorporate it. Had
they been substantially offered seriously before, they would have been
adopted.
Please, let's not fall for a partisan ploy and kill a good bill.
Mr. VAN HOLLEN. Speaker, I rise in support of the second amendment to
the American Housing Rescue and Foreclosure Prevention Act of 2008.
Today, one quarter of subprime adjustable-rate mortgages are
delinquent by 90 days or more. As a consequence, during 2007,
foreclosure proceedings were initiated on about 1.5 million U.S. homes.
The Federal Reserve has projected that the rate of foreclosures will
grow even higher in 2008.
We know that many of these foreclosures are unavoidable. There are
cases where investors choose foreclosure because a property's value has
depreciated significantly, or a borrower's personal circumstances have
changed. And, many times, as has recently become alarmingly prevalent,
a borrower was put into a loan inappropriate for their circumstances.
But, if a foreclosure is preventable, and the borrower wants to stay in
the home, the economic argument for trying to avolid foreclosure is
strong.
Foreclosures impose high legal and administrative costs. Foreclosures
can destabilize communities, reduce area property values and lower
municipal tax revenues. And, at the national level, foreclosures add to
the stock of homes for sale, increasing downward pressure on home
prices, which affects the broader economy.
In the past, mortgage defaults were usually triggered by a borrower's
life event, such as the loss of a job, serious illness or injury, or
divorce. But the widespread decline in home prices we are witnessing
today is a relatively new phenomenon and lenders, servicers and
policymakers will have to develop new strategies to meet this new
challenge.
To be effective, our approach must closely target the borrowers at
the highest risk of foreclosure while avoiding programs that give
borrowers, who can make their payments, an incentive to default.
Th American Housing Rescue and Foreclosure Prevention Act will
address these problems. The bill's second amendment contains several
housing-related tax provisions recently reported by the Ways and Means
Committee as part of the Housing Assistance Tax Act.
The amendment creates a refundable tax credit of up to $7,500 for
first-time homebuyers that would serve as an interest-free loan, and
provides an additional standard deduction in 2008 of up to $350 for
individuals and $700 for couples for state and local property taxes. It
authorizes an additional $10 billion in taxexempt bonds that would be
used to refinance subprime loans, finance the construction of low-
income rental housing, and support loans to first-time homebuyers.
To assist our men and women in uniform, many of whom have put
themselves in harms way in service to their country, the amendment adds
provisions from a measure approved by the Veterans Affairs Committee
that extends to one year, from 90 days, the period following active
duty service during which service members are protected from
foreclosures.
This amendment will fully offset the cost of its tax provisions in
two ways. First, by raising $8 billion through FY 2018 by requiring
brokers to report their customer's basis in securities transactions,
and second, by raising $3.2 billion through FY 2018 by delaying, until
2010, new rules allocating interest expenses between foreign and
domestic sources.
Madam Speaker, I am proud to stand today in support of the second
amendment to The American Housing Rescue and Foreclosure Prevention Act
of 2008 and I urge my colleagues to join me.
Mr. DINGELL. Mr. Speaker, this legislation represents a fair, common
sense solution that will allow homeowners to stay in their homes and
help stabilize the housing market. I would like to extend my gratitude
to Chairman Frank for his hard work on this legislation, which will be
of critical importance in Michigan, where there are thousands of
homeowners in danger of foreclosure. I am especially pleased that this
bill includes legislation which I cosponsored that would provide up to
$300 billion in new loan guarantees to help refinance at-risk borrowers
into viable mortgages. In addition, this legislation includes important
provisions that expand homeownership opportunities for veterans,
seniors, and first-time homebuyers.
This legislation will help both homeowners and lenders, but this is
no bailout. Lenders who participate will have to take a loss, but their
losses under this program will be far less than if these properties go
into foreclosure. Borrowers who realize a profit when they sell their
home must return some of that profit to the government. The United
States provided similar leadership during the New Deal using a program
run by the Home Owners' Loan Corporation, HOLC. Much like the HOLC,
this program stands to save millions of homes from foreclosure at a
minimum cost to the taxpayers.
I would especially like to thank Chairman Frank for his assistance in
securing passage of a provision important to the residents of Parkview
Apartments in Ypsilanti, Michigan. I have been working for four years
now to try to facilitate the transfer of this property to Ypsilanti
Housing Authority. Chairman Frank and the staff of the Financial
Services Committee have been instrumental in these efforts, which are
designed to clarify Congressional intent regarding certain properties
that entered the Department of Housing and Urban Development, HUD,
property disposition process prior to the enactment of the Deficit
Reduction Act, DRA, but where the initial proposed disposition was
delayed.
While I believe that Parkview is already subject to the
grandfathering provision of the DRA, this provision clarifies that such
properties should be considered ``pre-DRA'' properties, and that HUD
should proceed with its prior disposition contracts as to those
properties. This provision is one of many that was included in
legislation that passed the House last year, and is now being included
in this bill as part of a comprehensive housing package. This
legislation is of the utmost importance to the Congress, and it is my
hope and expectation that it will soon be enacted into law.
Mr. DONNELLY. Mr. Speaker, I rise in strong support of H.R. 3221, The
Foreclosure
[[Page H3198]]
Prevention Act of 2008 and the package on the floor today that will
provide much-needed relief to homeowners at risk of foreclosure across
the country.
The collapse of the mortgage market that has unraveled over the last
year has not only impacted homebuyers who entered into non-traditional
mortgage products that they now find they are unable to repay, but has
also reverberated throughout the economy. We must act with necessary
urgency and pass the package before us today.
My home State of Indiana has been significantly impacted by this
foreclosure crisis, which is contributing to an ongoing economic
downturn. Our State has lost 27,000 jobs in the manufacturing industry
since 2000. Additionally, in 2007, 53,000 Indiana homes received
foreclosure notices. This number is up 74 percent from the number of
notices in 2005. That means that 53,000 families in my State+ may be
forced to move out of their homes, pull their children out of school
and find another place to live. Mr. Speaker, many of these people are
not reckless speculators, but rather hard-working families struggling
to make ends meet.
This package allows lenders, investors and homeowners to voluntarily
sit down at a table and work out a plan to rescue mortgages that may be
on the verge of foreclosure. It takes a responsible approach to provide
rescue assistance to those who most need it without encouraging
irresponsible behavior.
Mr. Speaker, I am also glad to see that this legislation includes a
bill I introduced to raise loan limits on FHA Title I-insured
manufactured home loans which have not been adjusted since 1992,
allowing more people to enter into a mortgage that they can afford on a
high-quality affordable home.
Also, this comprehensive package includes a number of tax incentives
to help prospective and current homeowners. It provides a $7,500 tax
credit to eligible families to put towards their downpayment on their
first home. Existing homeowners who do not itemize their tax returns
for 2008 would be eligible to deduct up to $700 for property tax relief
at a time they need it most.
Mr. Speaker, I want to thank Chairman Frank for his continued
leadership in responding to the housing and economic crisis and I urge
all my colleagues to pass the Housing Rescue Package today.
Mr. ETHERIDGE. Mr. Speaker, I rise in support of H.R. 3221, American
Housing Rescue and Foreclosure Prevention Act of 2008, and amendments
to the bill. This bill is a critical step towards stabilizing our
housing market, and providing assistance to thousands of Americans
facing foreclosure.
There are grave problems facing our current housing market and
economy. Decreasing home values and lack of available credit are
damaging the market, and skyrocketing mortgages have led thousands of
families to face the frightening prospect of foreclosure. In my state
of North Carolina alone, PEW Charity Trusts and the Center for
Responsible Lending estimate there will be 53,254 foreclosures in 2008
and 2009. Not only does foreclosure strike at the heart of these
families' financial stability, but unfortunately the damage spreads
across all of our communities. The same study shows that over 330,000
homes in North Carolina will be devalued by the spillover impact of the
foreclosures, and North Carolina stands to lose over $860 million in
property values.
However, H.R. 3221 is a comprehensive package that can provide relief
to these families and our communities in a variety of ways. Provisions
in this bill reform and modernize the Federal Housing Administration
(FHA) as well as government sponsored entities Fannie Mae and Freddie
Mac. These programs allow for stability in the housing market and by
strengthening their loan limits and regulations, they can serve as a
safer alternative to the riskier subprime loans we have recently seen.
The American Housing Rescue and Foreclosure Prevention Act of 2008 also
includes a tax benefit for first-time homebuyers as well as an
additional credit on property taxes for existing homeowners who claim
the standard deduction. These measures will help revive the housing
market and get our sluggish economy moving in the right direction.
This bill also creates a voluntary FHA initiative that provides
mortgage refinancing assistance to allow families to stay in their
homes while also strengthening the housing market. This voluntary plan
would require lenders to write-down some of the existing mortgage in
order to qualify for FHA backing, and would require borrowers to return
portions of any future profits on the house to the government in order
to prevent foreclosure. It is important to note that under H.R. 3221,
only owner-occupied homes facing foreclosure can qualify for this
mortgage assistance, and speculators, investors, and second-homeowners
are not eligible. This provision represents a compromise by all
participating parties and can keep people in their homes and improve
surrounding communities.
I support the passage of H.R. 3221, American Housing Rescue and
Foreclosure Prevention Act of 2008, and I urge my colleagues to join
me.
Mr. UDALL of Colorado. Mr. Speaker, I rise in support of this
legislation.
In most circumstances, I consider it counterproductive and not in the
best interest of the American people for the Federal Government to
intervene in the free market process. However, in certain exceptional
times, I believe it is the duty of the Federal Government to act for
the greater good of our Nation. And I think we are experiencing such an
exceptional moment in American history.
The provisions of this legislative package will help stabilize the
downward trend in the housing industry and overall economy, and prevent
that trend from spiraling out of control.
The danger is real. Just last month, the Pew Charitable Trusts
released a study that forecast one in 25 homeowners in my home state of
Colorado will be in foreclosure within the next two years if Congress
does not act now to curb this impending disaster. The national forecast
of homeowners in foreclosure within the next two years--one in 33--is
only slightly less discouraging. If we stand by and do nothing, as some
have suggested, the damage to the overall American economy could be
devastating.
First and foremost, this bill will help American families at risk of
foreclosure to stay in their homes by allowing the Federal Housing
Administration (FHA) to guarantee qualified refinanced loans. To do so,
however, homeowners and their lenders must agree to sacrifice. Lenders
could recover no more than 85 percent of a property's current value,
but could avoid the potentially greater losses associated with
unloading a foreclosed property. Meanwhile, participating homeowners
could remain in their home, but must repay the Federal Government a
percentage of the value of the home if they sell or refinance again.
The bill provides much needed measures to modernize the FHA, allowing
expanded opportunities for families to secure affordable loans without
having to turn to subprime lenders. The legislation also increases the
Veterans Administration home loan guarantee limit, allowing our
veterans to receive the dignified homeownership opportunities they
deserve for honoring us with their service; reforms Government
Sponsored Enterprises through strengthened regulation, while raising
GSE loan limits for homes in high-cost areas; and encourages mortgage
servicers to readjust at-risk mortgages by removing the threat of
lawsuit.
This legislation would help remove some of the excess housing
inventory by offering a refundable tax credit for first-time
homebuyers. It would also provide additional mortgage revenue bonds for
states to refinance subprime loans, and help prevent soldiers from
being unfairly penalized for their service by providing more time to
get their finances in order when they return from service before a
lender could start foreclosure.
A final important piece of this legislation would simply protect the
right of States and cities to regulate their own foreclosure process.
Some have argued that national banks and financial institutions should
be exempt from these rules. I, however, believe it is the right of
States and cities to have their own requirements and enforce their own
rules throughout the foreclosure process.
Mr. Speaker, I was very disappointed to learn of the Bush
Administration's threat to veto this legislation, because I believe
that it is important for us to act now to provide relief to America's
stressed homeowners. It is my understanding that Federal Reserve
Chairman Bernanke and Treasury Secretary Paulson, as well as other
Administration officials, had worked with Chairman Frank to shape
provisions of this legislation, so this change of heart is doubly
regrettable. I hope that the President will change his mind and sign
this needed legislation when it reaches his desk.
This legislation has been carefully crafted to safeguard against
fraud, corporate giveaways and speculator abuse. And as concerned as I
was that the Federal Reserve had to devote $29 billion to prevent the
collapse of investment bank Bear Stearns, I am equally concerned about
the Federal Government taking action to rescue the housing market.
However, without the stability that the Fed provided the investment
banking industry, experts tell us that the bottom may well have fallen
out of our economy. And it appears the same is true for our housing
market--without the stability this legislation will help provide, it
may not have the chance to correct itself and, eventually, rebound.
Main Street deserves the same attention as Wall Street.
For these reasons, Mr. Speaker, I urge my colleagues to join me in
supporting all three components of this legislation.
Mr. LANGEVIN. Mr. Speaker, I rise in strong support of the American
Housing Rescue and Foreclosure Prevention Act, which will help cities
and towns, but most importantly, individuals and families that have
been adversely impacted by the foreclosure crisis.
[[Page H3199]]
In my home state of Rhode Island, this problem is particularly acute.
Foreclosures have increased by 20 percent in the last few months, and
it is our most vulnerable communities that have been disproportionately
affected.
Last weekend I teamed with Rhode Island Housing--a nonprofit
organization dedicated to keeping housing affordable--to hold a
workshop for those facing foreclosure. While we helped many local
families, it is time for the Federal Government to do its part on a
national scale.
I commend Chairman Frank and Chairman Rangel for their leadership in
bringing this critical measure to the floor. I urge my colleagues to
support this bill.
Mr. CARSON of Indiana. Mr. Speaker, I rise today in strong support of
H.R. 3221, the American Housing Rescue and Foreclosure Prevention Act
of 2008. This package is a comprehensive response to the current
housing crisis that has left many honest, hardworking Americans in
financial distress.
H.R. 3221 is especially important to Hoosiers who have struggled as
our state consistently ranks among the top ten for foreclosures
nationally. The district I represent, which includes most of the City
of Indianapolis, currently has around 17,000 foreclosed properties and
around 7,200 in the preforeclosure phase. My constituents need the
assistance available in this bill urgently.
This package includes key legislation such as Government Sponsored
Enterprise reform, Federal Housing Administration modernization, the
Housing Assistance Tax Act and H.R. 5830, a critical bill reported out
of the Financial Services Committee last week that will help borrowers
at risk of foreclosure refinance into more stable loans. These bills
will not only help borrowers now, but strengthen the mortgage lending
market moving forward.
In order to ensure borrowers would be aware of the important FHA
refinancing opportunity under Chairman Frank's bill, H.R. 5830, I
introduced an amendment in the Financial Services Committee which
stated that no less than 2 percent of funds available for counseling in
the bill would be targeted towards notification to individuals who are
eligible to refinance their mortgage under the bill's provisions.
Further, we know that African American mortgage consumers were 3.7
times more likely than white borrowers to receive subprime loans and
Latinos were 2.3 times more likely. In order to help those
disproportionately affected by these high-cost loans, my amendment
further instructed the Secretary to give preference to organizations
that have a proven track record for outreach within minority
communities in allocating these notification resources. I am pleased
the amendment received bipartisan support and was incorporated into
this crucial piece of legislation.
I believe H.R. 3221 is the right approach to this complex housing
crisis. I thank Chairman Frank and Chairman Rangel for their hard and
thoughtful work on this bill and I look forward to seeing this
legislation move forward.
Mr. BACA. Mr. Speaker, I rise to support this bipartisan housing
stimulus package.
The foreclosure crisis is hurting communities all across the Nation,
and my district has been especially impacted: 4,523 families in my
district have already lost their homes this year. Over 11,000 families
in San Bernardino County are currently in default. And the San
Bernardino-Riverside area in the Inland Empire, ranked #2 nationwide in
foreclosure filings this year.
Everyone pays when there are foreclosures! Crime increases, home
values decline, schools are affected, and cities run deficits which
impacts revenues for local police, fire, and social services.
H.R. 5818, the Neighborhood Stabilization Act which passed today,
will help stabilize communities harmed by empty homes closed by
foreclosure. It will provide loans and grants to States to buy and
rehabilitate these properties and restore home values in neighborhoods.
The broader housing package is also important for many reasons: FHA
Stabilization will allow lenders to refinance mortgages with FHA-
insured loans to keep families in their homes. FHA Modernization
increases FHA loan limits permanently to help high cost housing areas
like the Inland Empire. The $7,500 Tax Credit for Homebuyers will help
first-time homebuyers purchasing their first home. Low-income Housing
Credit Reform modernizes the credit to increase affordable housing in
underserved neighborhoods. The increase in Mortgage Revenue Bonds will
allow states to issue more bonds for housing and use the proceeds to
refinance subprime mortgages.
Finally, my amendment to the financial services committee bill, H.R.
5830, will promote in-person housing counseling to reach homeowners in
default. This is more effective than sending a letter in the mail and
will help prevent many foreclosures.
I urge my colleagues to support this housing stimulus package. This
is the right thing to do and will keep people in their homes.
Mr. MILLER of California. Mr. Speaker, I rise in strong support of
this legislation to help homeowners and families affected by the
housing crisis.
This past year has been one of the most difficult ever for middle
class and low-income homeowners because of the collapse of the credit
markets, the weak economy, and high energy prices. It is clear to all
that what began as a housing crisis has become a crisis for the entire
economy and the entire country.
The housing crisis put a strain on our banking system, and that has
sent shock waves throughout the credit markets, for cars, for student
loans, and for all consumers. American families in all walks of life
are feeling the economic strain.
Millions of families across the Nation have lost or are at risk of
losing their homes. Foreclosures in my congressional district, Solano
County and Contra Costa County, are among the highest in the country.
People are looking to Congress for help.
It is critical that we stabilize the housing market and reduce the
number of homes going into foreclosure.
The bill we are considering today is urgently needed. It is designed
to responsibly rescue those who are facing foreclosure. It responds
directly to the current crisis, but it also establishes a system to try
to prevent a similar crisis in the future.
This bill will provide mortgage refinancing assistance to keep
families from losing their homes, protect neighboring home values, and
help stabilize the housing market. The federal government will step in
to insure $300 billion in new mortgages.
This legislation will allow FHA to insure more affordable fixed rate
loans for borrowers who are facing financial troubles. It will
modernize the FHA and reform the GSEs while providing crucial liquidity
to our mortgage markets now, and will also strengthen regulation and
oversight for the future.
The mortgage collapse has sent shockwaves through our entire economy
and it is clear that stabilizing the housing market is a critical step
in strengthening our economy.
I am appalled that President Bush refuses to help American homeowners
despite being perfectly willing to rescue Bear Stearns just a few
months ago. It is reckless for the White House to threaten to veto this
housing package that will make it easier for those in trouble to keep
their homes and will help stabilize our economy.
I urge the President to support this bill.
With this legislation, we can begin to repair the economy, restore
confidence in the markets, limit the damage to families and
neighborhoods, and help build new affordable housing. This bill is good
for hard working American families. We owe it to them to get it done.
Mr. McDERMOTT. Mr. Speaker, we're here today to take a stand on
behalf of low-income and vulnerable Americans who have been left out,
shut out, dropped out or forced out of any chance at decent, affordable
housing because of the predatory economic policies of this
Administration.
Under the leadership of Ways and Means Chairman Charles Rangel, we
have bipartisan legislation before us today that finally responds to
the needs of the American people.
For too long, too many disadvantaged and vulnerable Americans have
been forgotten, ignored or under-served when it came time to provide
economic assistance.
For the first time in a long time we have legislation that recognizes
and addresses the unique housing needs and circumstances of the working
poor, and other vulnerable Americans.
We provide States and cities with incentives to ensure that low-
income housing options remain available to those who need it most.
We increase the allocation of Federal low-income housing tax credits
and expand the authority of States to issue tax-exempt bonds to help
finance affordable housing.
Section 103 includes language to ensure that Federal assistance that
helps vulnerable populations, like the elderly, the sick, and veterans,
does not reduce the value of the Federal low-income housing tax credits
used to finance affordable rental housing.
Section 104 allows for consideration of whether an affordable housing
development employs technology and practices to improve its energy
efficiency, when Federal low-income housing tax credits are allocated
to affordable housing developments.
Section 104 also clarifies that students who were formerly in foster
care are not precluded from renting affordable housing financed by
Federal low-income housing tax credits.
This legislation touches the lives of real Americans who have been
left behind or outright forgotten for too long.
I urge my colleagues to support the legislation.
If we fail to meet the needs of vulnerable Americans, then we will
fail to live up to our responsibility of governing on behalf of all
people.
[[Page H3200]]
Mrs. CAPPS. Mr. Speaker, I rise today in strong support of H.R. 5818,
the Neighborhood Stabilization Act, and H.R. 3221, the American Housing
Rescue and Foreclosure Prevention Act.
These bills come at a critical time for America--and especially for
my constituents on the Central and South Coasts of California. That is
why I am extremely disappointed that the President has threatened to
veto them both.
They include much-needed reforms of the Federal Housing
Administration, Fannie Mae, and Freddie Mac, and usher these agencies
into the 21st century.
But they also accomplish three tasks that are vital to the housing
market and economy of the Central and South Coasts.
First, the American Housing Rescue and Foreclosure Prevention Act
makes permanent the temporary loan limit increases contained in the
Economic Stimulus Act of 2008.
Mr. Speaker, I cannot stress enough how vital this provision is for
my district.
Median home prices in Ventura, Santa Barbara, and San Luis Obispo
Counties are well above the national average, and our families are
truly struggling to obtain affordable housing.
Second, this bill will stem foreclosures by creating a voluntary
mortgage refinancing program that allows families to stay in their
homes.
Under this program, the Federal Housing Administration has the
authority to refinance up to $300 billion in imperiled mortgages.
With median home prices in Santa Barbara County alone declining
almost 30 percent in the past year alone, it is undoubtedly in the best
interests of lenders to participate in this program.
Lastly, the Neighborhood Stabilization Act establishes a loan and
grant program for the purchase and rehabilitation of foreclosed homes.
Just this week one of my hometown newspapers, the Ventura County
Star, reported on the negative impact that foreclosed homes have on
communities.
Lower home values, increased crime, and safety hazards are just a few
of the consequences that can result from foreclosure.
This bill prevents neighborhood decline by providing targeted
assistance to state and local governments.
Mr. Speaker, American families need help, and that is exactly what is
provided by the housing bills on the floor today.
I urge my colleagues to support these bills, and I urge the President
to work together with Congress in addressing the needs of the hard-
working families in America who want to keep their homes.
Mr. MARKEY. Mr. Speaker, I rise today in support of H.R. 3221, the
American Housing Rescue and Foreclosure Prevention Act of 2008.
This vital legislation comes at a time of record-breaking gas prices,
double digit increases in food prices and a weakening economy. On top
of all these struggles, Americans now face a crisis at home and in
their communities in the form of rising property foreclosures. In some
parts of the country, neighborhoods are littered with ``for sale''
signs, and many families are struggling to keep up with their mortgage
payments. The legislation we are debating on this floor today will
empower communities to respond to the current home mortgage crisis,
prevent further lending abuses and increase federal oversight of the
mortgage industry.
H.R. 3221 expands the Federal Housing Administration's role in
preventing foreclosures by expanding refinancing loan guarantees for
at-risk homeowners. Today, families are facing variable interest rates,
hidden fees, early payment penalties, but with enactment of the
Foreclosure Prevent Act, the government will be there to provide relief
and counseling. It also increases oversight to ensure regulators have
the tools to prevent the next crisis. It expands housing counseling and
consumer protections. The bill also establishes an affordable housing
trust fund to provide assistance for low income households. The bill
even makes it harder to foreclose on the homes of our returning troops
from Iraq and Afghanistan.
This bill also contains important language to my district and my
hometown of Malden, Massachusetts. The tenants of the Heritage
Apartments face an uncertain future, with an HUD affordability contract
expiring soon. The tenants are facing possible displacement once an
outstanding HUD mortgage is fully paid in a few years. The development
is also in need of major renovations and upgrades that simply cannot be
delayed. Unfortunately HUD is failing to ensure that the development
remains affordable and livable by placing burdensome restrictions on
prepayment of the outstanding mortgage and subsequent transfer to a new
owner who is willing to finance the renovations.
Language in this bill would allow income-eligible residents to
qualify for enhanced housing vouchers following the prepayment of the
HUD mortgage and the property transfer and directs HUD to approve such
actions. I want to thank the Chairman of the Financial Services
Committee (Mr. Frank) for his assistance in ensuring that this
important provision is included in this housing bill.
Today, with this legislation, we are taking steps to revitalize our
communities for a better tomorrow. I strongly urge this House to vote
to approve this bill.
Mr. SKELTON. Mr. Speaker, over the past months, economic conditions
in our country have soured. Particularly troublesome to our Nation's
economic engine are skyrocketing home foreclosures and loan delinquency
rates, which have risen over 85 percent in the past year.
Foreclosures and delinquencies are harmful to borrowers and lenders,
but they also stifle economic growth, shake consumer confidence, and
lower home values for those who live near foreclosed properties.
While borrowers in our country must certainly bear a great deal of
responsibility when it comes to financial planning, the government can
and must carefully examine the impact of soaring mortgage foreclosures
on the whole U.S. economy and also thoroughly review regulatory
oversight with respect to the mortgage business.
I have been pleased that the House has been active in addressing the
mortgage crisis, voting last year to strengthen consumer protections
against risky loans and to overhaul the Federal Housing Administration
(FHA), Freddie Mac, and Fannie Mae, among other things. Under the
leadership of Financial Services Committee Chairman Barney Frank, the
House is again poised to pass critical, market-driven housing
legislation designed to reduce foreclosures, to help families avoid
foreclosure in the future, and to alleviate the negative impacts of
foreclosures on property values and the national economy.
I am pleased to support this legislation, which would create a new
voluntary program within FHA that would offer lenders an alternative to
foreclosure. This approach, which is driven by the lenders' desire to
save costs associated with foreclosing on property, forces the lender,
the borrower, and the government to all make sacrifices to ensure
families have the ability to stay in their homes. While some have
criticized this initiative as a government bailout of those who have
made poor financial choices, in my view, it represents an innovative,
market-driven way to shore up the housing market and the overall
economy.
The measure would also create a $7,500 tax incentive for first time
home buyers and other important tax incentives while simultaneously
modernizing the FHA, Freddie Mac, and Fannie Mae and increasing the
loan limit for FHA and Veterans' Administration loans.
I am hopeful that the Senate will act quickly on this well written
bill and that it will be signed into law by the President.
Mr. HOLT. Mr. Speaker, I rise today in support of H.R. 3221, the
Foreclosure Prevention Act.
At the end of last year, home foreclosure rates rose to the highest
level in 20 years. Every day more than 7,000 people file for
foreclosure, and it is predicted that predatory lending practices and
sub prime mortgages will cause one in every thirty-three homeowners to
foreclose on their mortgages in the next 2 years.
This is not an issue that is merely affecting those who have
defaulted on their mortgages and their lenders; it is having a ripple
effect throughout the economy. It has resulted in a nationwide decrease
in housing prices of 12.4 percent, and 10 percent of Americans now owe
more money on their mortgages than their homes are worth. It has caused
a decrease in consumer confidence and corresponding decrease in
consumer spending. It has contributed to a steep increase in job losses
in housing related industries such as manufacturing, construction and
related industries. These job losses combined with the loss of consumer
confidence could reduce economic activity by over 150 billion dollars
in 2008.
This is a crisis, and it is time, it is past time, that the Federal
Government step in and help those that are suffering. H.R. 3221 would
provide mortgage refinancing assistance to keep families in their
homes, protect neighboring home values, and help stabilize the housing
market. It would expand the Federal Housing Administration to help
borrowers who are at risk of losing their homes to refinance into
lower-cost government-insured mortgages that they can afford to repay.
H.R. 3221 ensures that this will be done responsibly, by requiring
lenders and mortgage investors to take significant losses in order to
participate in this program and by requiring borrowers to share a
portion of any resale of a refinanced home with the government.
H.R. 3221 also provides 11 billion dollars in tax incentives to help
Americans purchase a first home or hold onto the ones that they already
have. This includes tax credits to first-time homebuyers, an additional
10 billion dollars in mortgage revenue bonds for states,
[[Page H3201]]
and improves access to low-income housing. It also includes a provision
that I wrote to allow homeowners who currently do not itemize their
Federal tax returns to take an additional standard deduction for the
state and local property taxes that they pay. The Temporary Tax Relief
Act creates an additional standard deduction of $350 for single filers
and $700 for joint filers for state and local real property taxes paid
or accrued. This legislation will complement efforts that have already
been implemented on the state and federal level to help address the
housing crisis.
I am proud that several organizations in my home state of New Jersey
have stepped in to provide services and assistance to New Jerseyans who
are at risk of losing their homes. One of the shining examples of this
is Legal Services of New Jersey. LSNJ created the Anti-Predatory
Lending Project 5 years ago to provide legal services to borrowers
victimized by predatory lenders. LSNJ's hardworking lawyers have helped
almost 500 families who were facing foreclosure receive legal
assistance. I would like to commend LSNJ for the work that they have
done on behalf of the residents of my central New Jersey district and
for all New Jerseyans who have been at risk of losing their homes.
H.R. 3221 and the companion bill that the House of Representatives
will be considering, H.R. 5818, the Neighborhood Stabilization Act are
a bold step towards addressing the mortgage crisis and the resulting
economic downturn, and I urge my colleagues to support them.
Mr. KANJORSKI. Mr. Speaker, I rise in support of the amendments to
H.R. 3221, the American Housing Rescue and Foreclosure Prevention Act
of 2008, which the House is considering today. This urgently needed
legislation makes a number of surgical reforms to help address the
problems we are currently facing in our Nation's housing markets.
In particular, I am pleased that one of the amendments that we will
consider today contains H.R. 5579, the Emergency Mortgage Loan
Modification Act of 2008. I have worked with the gentleman from
Delaware (Mr. Castle) to refine his original proposal and introduce a
new bill. We also held a productive hearing on H.R. 5579 before the
House Financial Services Capital Markets Subcommittee and made a number
of revisions to the bill before bringing it to the floor today.
During the hearings on H.R. 5579 and throughout its legislative
development, I have been clear about the intended goals of this
legislation: to provide servicers a safe harbor from investor lawsuits.
Servicers, in turn, would have to meet prescribed duties and enter into
a ``qualified loan modification'' or ``workout plan'' which the
legislation defines. It is my firm belief that with such an arrangement
in place, servicers will more readily assist troubled homeowners and
will have more tools at their disposal to prevent defaults and
foreclosures.
Moreover, I would like to be clear about what the bill does not
intend. H.R. 5579 does not intend to create a statutory preference for
loss mitigation activities generally, nor does it limit the ability of
servicers to pursue the full scope of available options. In drafting
this legislation we sought to create a bill that honors the terms of
existing contracts while at the same time recognizing that foreclosure
is not in the best interests of the investor or borrower.
In closing, Mr. Speaker, Americans have been hit hard both by the
current housing crisis and by the broader credit crunch. We can delay
action no longer. I therefore urge my colleagues to support H.R. 3221,
and especially the incorporated language from H.R. 5579.
Parliamentary Inquiries
Mr. WESTMORELAND. Parliamentary inquiry.
The SPEAKER pro tempore (Mr. Weiner). State your parliamentary
inquiry.
Mr. WESTMORELAND. Mr. Speaker, isn't it true that if this motion
passed, that it would be referred back to the committee from whence it
came, and that it could be reported back the next legislative day?
The SPEAKER pro tempore. As the Chair reaffirmed on November 15,
2007, at some subsequent time, the committee could meet and report the
bill back to the House.
Mr. FRANK of Massachusetts. Mr. Speaker, parliamentary inquiry.
The SPEAKER pro tempore. The gentleman will state his parliamentary
inquiry.
Mr. FRANK of Massachusetts. The committee and the House are
constrained by a number of rules that cause substantial numbers of days
to elapse. Does this motion, if it passes, in any way empower us to
forget those rules of the House which require a certain number of days
in committee, certain number of layovers, an announcement of a markup,
a delay before the bill is reported, the Rules Committee, et cetera?
Does this motion in any way reduce any of those timetables?
The SPEAKER pro tempore. As the Chair stated on November 15, 2007, an
order of recommital does not necessarily waive any rules, but the Chair
cannot render an advisory opinion on what points of order might lie.
Mr. WESTMORELAND. Parliamentary inquiry, Mr. Speaker.
The SPEAKER pro tempore. The gentleman from Georgia will state his
parliamentary inquiry.
Mr. WESTMORELAND. Mr. Speaker, isn't it true if you have 218 votes
you can do just about anything you want to in this House?
The SPEAKER pro tempore. The gentleman has not stated a proper
parliamentary inquiry.
Without objection, the previous question is ordered on the motion to
recommit.
There was no objection.
The SPEAKER pro tempore. The question is on the motion to recommit.
The question was taken; and the Speaker pro tempore announced that
the noes appeared to have it.
Recorded Vote
Mr. SHADEGG. Mr. Speaker, I demand a recorded vote.
A recorded vote was ordered.
The SPEAKER pro tempore. Pursuant to clause 8 and clause 9 of rule
XX, this 15-minute vote on the motion to recommit will be followed by
5-minute votes on passage of the bill, and motion to suspend the rules
on H.R. 4279.
The vote was taken by electronic device, and there were--ayes 210,
noes 216, not voting 7, as follows:
[Roll No. 298]
AYES--210
Aderholt
Akin
Alexander
Bachmann
Bachus
Barrett (SC)
Barrow
Bartlett (MD)
Barton (TX)
Biggert
Bilbray
Bilirakis
Bishop (UT)
Blackburn
Blunt
Boehner
Bonner
Bono Mack
Boozman
Boustany
Brady (TX)
Broun (GA)
Brown (SC)
Brown-Waite, Ginny
Buchanan
Burgess
Burton (IN)
Buyer
Calvert
Camp (MI)
Cannon
Cantor
Capito
Carney
Carter
Castle
Cazayoux
Chabot
Coble
Cole (OK)
Conaway
Crenshaw
Cubin
Culberson
Davis (KY)
Davis, David
Davis, Tom
Deal (GA)
Dent
Diaz-Balart, L.
Diaz-Balart, M.
Donnelly
Doolittle
Drake
Dreier
Duncan
Ehlers
Ellsworth
Emerson
English (PA)
Everett
Fallin
Feeney
Ferguson
Flake
Forbes
Fortenberry
Fossella
Foxx
Franks (AZ)
Frelinghuysen
Gallegly
Garrett (NJ)
Gerlach
Giffords
Gilchrest
Gillibrand
Gingrey
Gohmert
Goode
Goodlatte
Granger
Graves
Hall (TX)
Hastings (WA)
Hayes
Heller
Hensarling
Herger
Hill
Hobson
Hoekstra
Hulshof
Hunter
Inglis (SC)
Issa
Johnson (IL)
Johnson, Sam
Jordan
Keller
King (IA)
King (NY)
Kingston
Kirk
Kline (MN)
Knollenberg
Kuhl (NY)
LaHood
Lamborn
Lampson
Latham
LaTourette
Latta
Lewis (CA)
Lewis (KY)
Linder
LoBiondo
Lucas
Lungren, Daniel E.
Mack
Manzullo
Marchant
Marshall
McCarthy (CA)
McCaul (TX)
McCotter
McCrery
McHenry
McHugh
McIntyre
McKeon
McMorris Rodgers
McNerney
Mica
Miller (FL)
Miller (MI)
Miller, Gary
Mitchell
Moran (KS)
Murphy, Patrick
Murphy, Tim
Musgrave
Myrick
Neugebauer
Nunes
Pearce
Pence
Peterson (PA)
Petri
Pickering
Pitts
Platts
Poe
Porter
Price (GA)
Pryce (OH)
Putnam
Radanovich
Ramstad
Regula
Rehberg
Reichert
Renzi
Reynolds
Rogers (AL)
Rogers (KY)
Rogers (MI)
Rohrabacher
Ros-Lehtinen
Roskam
Royce
Ryan (WI)
Sali
Saxton
Scalise
Schmidt
Sensenbrenner
Sessions
Shadegg
Shays
Shimkus
Shuster
Simpson
Smith (NE)
Smith (NJ)
Smith (TX)
Souder
Stearns
Sullivan
Tancredo
Terry
Thornberry
Tiahrt
Tiberi
Turner
Upton
Walberg
Walden (OR)
Walsh (NY)
Wamp
Weldon (FL)
Weller
Westmoreland
Whitfield (KY)
Wilson (NM)
Wilson (SC)
Wittman (VA)
Wolf
Young (AK)
Young (FL)
NOES--216
Abercrombie
Ackerman
Allen
Altmire
Andrews
Arcuri
Baca
Baird
Baldwin
Bean
Becerra
Berkley
Berman
Berry
Bishop (GA)
Bishop (NY)
Blumenauer
Boren
Boswell
Boucher
Boyd (FL)
Boyda (KS)
Brady (PA)
Braley (IA)
Brown, Corrine
Butterfield
Capps
Capuano
Cardoza
Carnahan
Carson
Castor
Chandler
Clarke
Clay
Cleaver
Clyburn
Conyers
Cooper
Costa
Costello
Courtney
Cramer
Crowley
Cuellar
Cummings
Davis (AL)
Davis (CA)
Davis (IL)
Davis, Lincoln
DeFazio
DeGette
Delahunt
DeLauro
Dicks
Dingell
Doggett
[[Page H3202]]
Doyle
Edwards
Ellison
Emanuel
Engel
Eshoo
Etheridge
Farr
Fattah
Filner
Foster
Frank (MA)
Gonzalez
Gordon
Green, Al
Green, Gene
Grijalva
Hall (NY)
Hare
Harman
Hastings (FL)
Herseth Sandlin
Higgins
Hinchey
Hinojosa
Hirono
Hodes
Holden
Holt
Honda
Hooley
Hoyer
Inslee
Israel
Jackson (IL)
Jackson-Lee (TX)
Jefferson
Johnson (GA)
Johnson, E. B.
Jones (OH)
Kagen
Kanjorski
Kaptur
Kennedy
Kildee
Kilpatrick
Kind
Klein (FL)
Kucinich
Langevin
Larsen (WA)
Larson (CT)
Lee
Levin
Lewis (GA)
Lipinski
Lofgren, Zoe
Lowey
Lynch
Mahoney (FL)
Maloney (NY)
Markey
Matheson
Matsui
McCarthy (NY)
McCollum (MN)
McDermott
McGovern
McNulty
Meek (FL)
Meeks (NY)
Melancon
Michaud
Miller (NC)
Miller, George
Mollohan
Moore (KS)
Moore (WI)
Moran (VA)
Murphy (CT)
Murtha
Nadler
Napolitano
Neal (MA)
Oberstar
Obey
Olver
Ortiz
Pallone
Pascrell
Pastor
Paul
Payne
Perlmutter
Peterson (MN)
Pomeroy
Price (NC)
Rahall
Rangel
Reyes
Rodriguez
Ross
Rothman
Roybal-Allard
Ruppersberger
Ryan (OH)
Salazar
Sanchez, Linda T.
Sanchez, Loretta
Sarbanes
Schakowsky
Schiff
Schwartz
Scott (GA)
Scott (VA)
Serrano
Sestak
Shea-Porter
Sherman
Shuler
Sires
Skelton
Slaughter
Smith (WA)
Snyder
Solis
Space
Speier
Spratt
Stark
Stupak
Sutton
Tanner
Tauscher
Taylor
Thompson (CA)
Thompson (MS)
Tierney
Towns
Tsongas
Udall (CO)
Udall (NM)
Van Hollen
Velazquez
Visclosky
Walz (MN)
Wasserman Schultz
Waters
Watson
Watt
Waxman
Weiner
Welch (VT)
Wexler
Wilson (OH)
Woolsey
Wu
Wynn
Yarmuth
NOT VOTING--7
Campbell (CA)
Cohen
Gutierrez
Jones (NC)
Loebsack
Richardson
Rush
Announcement by the Speaker Pro Tempore
The SPEAKER pro tempore (during the vote). Members have 2 minutes
remaining to cast their votes.
{time} 1206
Messrs. KINGSTON and PICKERING changed their vote from ``no'' to
``aye.''
So the motion to recommit was rejected.
The result of the vote was announced as above recorded.
The SPEAKER pro tempore. The question is on the passage of the bill.
The question was taken; and the Speaker pro tempore announced that
the ayes appeared to have it.
Recorded Vote
Mr. HENSARLING. Mr. Speaker, I demand a recorded vote.
A recorded vote was ordered.
The SPEAKER pro tempore. This will be a 5-minute vote.
The vote was taken by electronic device, and there were--ayes 239,
noes 188, not voting 6, as follows:
[Roll No. 299]
AYES--239
Abercrombie
Ackerman
Allen
Altmire
Andrews
Arcuri
Baca
Baird
Baldwin
Barrow
Bean
Becerra
Berkley
Berman
Berry
Bishop (GA)
Bishop (NY)
Blumenauer
Boren
Boswell
Boucher
Boyd (FL)
Boyda (KS)
Brady (PA)
Braley (IA)
Brown, Corrine
Butterfield
Capps
Capuano
Cardoza
Carnahan
Carney
Carson
Castor
Cazayoux
Chandler
Clarke
Clay
Cleaver
Clyburn
Conyers
Cooper
Costa
Costello
Courtney
Cramer
Crowley
Cuellar
Cummings
Davis (AL)
Davis (CA)
Davis (IL)
Davis, Lincoln
DeFazio
DeGette
Delahunt
DeLauro
Diaz-Balart, L.
Diaz-Balart, M.
Dicks
Dingell
Doggett
Donnelly
Doyle
Edwards
Ellison
Ellsworth
Emanuel
Engel
Eshoo
Etheridge
Farr
Fattah
Filner
Foster
Frank (MA)
Giffords
Gilchrest
Gonzalez
Gordon
Green, Al
Green, Gene
Grijalva
Hall (NY)
Hare
Harman
Hastings (FL)
Herseth Sandlin
Higgins
Hill
Hinchey
Hinojosa
Hirono
Hodes
Holden
Holt
Honda
Hooley
Hoyer
Inslee
Israel
Jackson (IL)
Jackson-Lee (TX)
Jefferson
Johnson (GA)
Johnson, E. B.
Jones (OH)
Kagen
Kanjorski
Kaptur
Kennedy
Kildee
Kilpatrick
Kind
Klein (FL)
Kucinich
Lampson
Langevin
Larsen (WA)
Larson (CT)
LaTourette
Lee
Levin
Lewis (GA)
Lipinski
Lofgren, Zoe
Lowey
Lynch
Mahoney (FL)
Maloney (NY)
Markey
Marshall
Matheson
Matsui
McCarthy (NY)
McCollum (MN)
McDermott
McGovern
McIntyre
McNerney
McNulty
Meek (FL)
Meeks (NY)
Melancon
Michaud
Miller (NC)
Miller, George
Mitchell
Mollohan
Moore (KS)
Moore (WI)
Moran (VA)
Murphy (CT)
Murphy, Patrick
Murtha
Nadler
Napolitano
Neal (MA)
Oberstar
Obey
Olver
Ortiz
Pallone
Pascrell
Pastor
Payne
Perlmutter
Peterson (MN)
Pomeroy
Porter
Price (NC)
Pryce (OH)
Rahall
Ramstad
Rangel
Reyes
Rodriguez
Ros-Lehtinen
Ross
Rothman
Roybal-Allard
Ruppersberger
Ryan (OH)
Salazar
Sanchez, Linda T.
Sanchez, Loretta
Sarbanes
Schakowsky
Schiff
Schwartz
Scott (GA)
Scott (VA)
Serrano
Sestak
Shays
Shea-Porter
Sherman
Shuler
Sires
Skelton
Slaughter
Smith (WA)
Snyder
Solis
Space
Speier
Spratt
Stark
Stupak
Sutton
Tanner
Tauscher
Taylor
Thompson (CA)
Thompson (MS)
Tierney
Towns
Tsongas
Turner
Udall (CO)
Udall (NM)
Van Hollen
Velazquez
Visclosky
Walsh (NY)
Walz (MN)
Wasserman Schultz
Waters
Watson
Watt
Waxman
Weiner
Welch (VT)
Wexler
Wilson (OH)
Woolsey
Wu
Wynn
Yarmuth
NOES--188
Aderholt
Akin
Alexander
Bachmann
Bachus
Barrett (SC)
Bartlett (MD)
Barton (TX)
Biggert
Bilbray
Bilirakis
Bishop (UT)
Blackburn
Blunt
Boehner
Bonner
Bono Mack
Boozman
Boustany
Brady (TX)
Broun (GA)
Brown (SC)
Brown-Waite, Ginny
Buchanan
Burgess
Burton (IN)
Buyer
Calvert
Camp (MI)
Cannon
Cantor
Capito
Carter
Castle
Chabot
Coble
Cole (OK)
Conaway
Crenshaw
Cubin
Culberson
Davis (KY)
Davis, David
Davis, Tom
Deal (GA)
Dent
Doolittle
Drake
Dreier
Duncan
Ehlers
Emerson
English (PA)
Everett
Fallin
Feeney
Ferguson
Flake
Forbes
Fortenberry
Fossella
Foxx
Franks (AZ)
Frelinghuysen
Gallegly
Garrett (NJ)
Gerlach
Gillibrand
Gingrey
Gohmert
Goode
Goodlatte
Granger
Graves
Hall (TX)
Hastings (WA)
Hayes
Heller
Hensarling
Herger
Hobson
Hoekstra
Hulshof
Hunter
Inglis (SC)
Issa
Johnson (IL)
Johnson, Sam
Jones (NC)
Jordan
Keller
King (IA)
King (NY)
Kingston
Kirk
Kline (MN)
Knollenberg
Kuhl (NY)
LaHood
Lamborn
Latham
Latta
Lewis (CA)
Lewis (KY)
Linder
LoBiondo
Lucas
Lungren, Daniel E.
Mack
Manzullo
Marchant
McCarthy (CA)
McCaul (TX)
McCotter
McCrery
McHenry
McHugh
McKeon
McMorris Rodgers
Mica
Miller (FL)
Miller (MI)
Miller, Gary
Moran (KS)
Murphy, Tim
Musgrave
Myrick
Neugebauer
Nunes
Paul
Pearce
Pence
Peterson (PA)
Petri
Pickering
Pitts
Platts
Poe
Price (GA)
Putnam
Radanovich
Regula
Rehberg
Reichert
Renzi
Reynolds
Rogers (AL)
Rogers (KY)
Rogers (MI)
Rohrabacher
Roskam
Royce
Ryan (WI)
Sali
Saxton
Scalise
Schmidt
Sensenbrenner
Sessions
Shadegg
Shimkus
Shuster
Simpson
Smith (NE)
Smith (NJ)
Smith (TX)
Souder
Stearns
Sullivan
Tancredo
Terry
Thornberry
Tiahrt
Tiberi
Upton
Walberg
Walden (OR)
Wamp
Weldon (FL)
Weller
Westmoreland
Whitfield (KY)
Wilson (NM)
Wilson (SC)
Wittman (VA)
Wolf
Young (AK)
Young (FL)
NOT VOTING--6
Campbell (CA)
Cohen
Gutierrez
Loebsack
Richardson
Rush
Announcement by the Speaker Pro Tempore
The SPEAKER pro tempore (during the vote). Members are reminded there
are 2 minutes remaining on this vote.
{time} 1216
Mr. KIRK changed his vote from ``aye'' to ``no.''
So the bill was passed.
The result of the vote was announced as above recorded.
A motion to reconsider was laid on the table.
____________________