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Sneaky Plan to Raise Mortgage Rates in Highway Bill
Wednesday, July 22, 2015
Senate Majority Leader Mitch McConnell (R-KY) and Senator Barbara Boxer (D-CA), Ranking Member of the Senate Environment and Public Works Committee have reached agreement on a Senate bill to extend transportation programs for six years but the Senate yesterday failed to reach cloture to begin voting on it. Democrats in the Senate claim they have not been allowed time to read the bill and that no amendments are being allowed from the floor. Not enough Republicans voted for the measure to consider the bill to overcome Democratic opposition; the cloture vote failed 41 to 56. Sixty yes votes were needed.
So what? Well, it seems that the Fannie Mae and Freddie Mac may be embroiled in the dispute. Buried on page 948 of the 1,030 page bill is the following:
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