[Congressional Record Volume 154, Number 128 (Wednesday, July 30, 2008)]
[House]
[Page H7332]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 HOUSE PASSES COMPREHENSIVE HOUSING BILL THAT WILL STRENGTHEN HOUSING 
                           MARKET AND ECONOMY

  (Mr. WILSON of Ohio asked and was given permission to address the 
House for 1 minute.)
  Mr. WILSON of Ohio. Madam Speaker, last week this House passed 
comprehensive legislation that will assist homeowners facing 
foreclosure and help strengthen the housing market and our overall 
economy.
  This bill will help significant numbers of hardworking American 
families in danger of losing their home refinance into lower cost 
government-insured mortgages, and we can do this at no cost to the 
American taxpayer.
  The bill also helps neighborhoods hardest hit by the foreclosure 
crisis by providing resources to allow cities and States to buy up and 
rehabilitate foreclosed properties. Today, these properties are driving 
down home prices, reducing State and local revenues, and destabilizing 
neighborhoods.
  Madam Speaker, we simply cannot revitalize the economy without 
addressing our Nation's housing crisis. Last week, the Democratic 
Congress once again acted on the real challenges facing the American 
people.

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