From the Washington Post: "The Bush administration's plan to prop up troubled mortgage-finance giants Fannie Mae and Freddie Mac is likely to cost taxpayers less than $25 billion, Capitol Hill's chief budget analyst said yesterday. But there is an outside chance that a further collapse in the housing market could require an infusion of $100 billion or more."
Congressional Budget Office (CBO) director Peter R. Orszag issued a letter on the costs of providing financial assistance to Fannie Mae and Freddie Mac. The CBO also released a cost estimate of bill H.R. 3221. You can read and track bill H.R. 3221, the Housing and Economic Recovery Act of 2008, through THOMAS.
Treasury Secretary Henry Paulson voiced his support for the bill, and the Office of Management and Budget (OMB) issued an Administration Policy statement supporting bill H.R. 3221 as amended.
The Fannie Mae and Freddie Mac websites have information on financial recovery efforts.
Sources: Montgomery, L., and Hilzenrath, D.S. (23 July 2008). "Hill Budget Chief Weighs Odds, Cost Of Rescue Plan: Fannie, Freddie Could Need $100 Billion or Not a Cent." Washington Post. D01.
Stolberg, S.G. and Herszenhorn, D.M. (23 July 2008). "Bush Drops Opposition to Housing Bill." New York Times.
No comments:
Post a Comment