Home About Chat Users Issues Party Candidates Polling Firms Media News Polls Calendar Key Races United States President Senate House Governors International

New User Account
"A comprehensive, collaborative elections resource." 
Email: Password:

  McConnell Proposes Cheap, Government-Backed Mortgages to Stimulate Economy
NEWS DETAILS
Parent(s) Candidate 
ContributorKarma Policeman 
Last EditedKarma Policeman  Feb 03, 2009 04:56pm
Logged 0
CategoryProposed Legislation
MediaTV News - FOX News
News DateTuesday, February 3, 2009 10:00:00 PM UTC0:0
DescriptionSenate Republican leader Mitch McConnell on Monday demanded an amendment to the mammoth economic stimulus package to give government-backed, low-interest loans to homeowners -- a revision that he says will both increase the demand for houses and boost the average household income.

"We believe that a stimulus bill must fix the main problem first and that's housing," McConnell told reporters Monday in introducing a plan to offer fixed mortgages of 4 percent to "any credit-worthy borrower."

Under the "Fix Housing First Act" -- an amendment spearheaded by both McConnell and Republican Sen. Lamar Alexander of Tennessee -- new and refinanced mortgages would be available to homeowners for 4 to 4.5 percent.
Share
ArticleRead Full Article

NEWS
Date Category Headline Article Contributor

DISCUSSION