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  March 16, 2011, 6:45 pm

House votes to end third housing program

By Pete Kasperowicz

The House passed a bill Wednesday to end an administration program aimed at rescuing neighborhoods from the foreclosure crisis

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  March 16, 2011, 5:19 pm

Approps chairman attacks Sen. Paul spending cuts, saying they would shutdown government agencies

By Josiah Ryan

The chairman of the Senate Appropriations Committee attacked Sen. Rand Paul's (R-Ky.) plan to slash government spending by $200 billion, claiming the cuts would devastate government operations.

"The only thing most agencies would be able to do if they were faced with cuts of this magnitude would be to plan to shut down their operations," said Sen. Daniel Inouye (D-Hawaii). "I can't think of a single member of this chamber responsibly voting for this amendment."

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  March 16, 2011, 2:51 pm

Dem suggests GOP housing opposition racially motivated

By Pete Kasperowicz

Rep. Baca implied on Wednesday that the Republican push to end a federal housing aid program is racially motivated.

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  March 16, 2011, 2:30 pm

Schumer to Boehner: 'Abandon the Tea Party'

By Josiah Ryan


Sen. Charles Schumer (D-N.Y.) called on Speaker John Boehner (R-Ohio) to abandon the Tea Party element of his conference in the name of passing a long-term budget deal for the rest of the fiscal year.

“In order to avoid a dead end on these budget talks he [Boehner] should abandon the Tea Party and work to find a bipartisan consensus,” Schumer said on the floor Wednesday afternoon. “It’s the only way out of this bind. “

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  March 16, 2011, 2:17 pm

Sen. Paul to offer amendment to cut $200 billion in spending

By Josiah Ryan

Sen. Rand Paul (R-Ky.) said that if it was the "sense of the Senate" to pass a five percent cut in its own operating costs it also ought to be willing to cut five percent from the entire budget.

"If we were to cut our entire budget by five percent it would be about $200 billion," said Paul, "Are we bold enough? Will we do it?"

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  March 16, 2011, 2:12 pm

House approves rule for mortgage finance legislation

By Pete Kasperowicz

The House on Wednesday afternoon approved a a rule for considering two bills that would eliminate federal mortgage aid programs.

The rule was approved by a 241-180 vote, and three Democrats voted with Republicans: Jason Altmire (Pa.), Jay Inslee (Wash.), and Heath Shuler (NC).

Vote on the rule allowed the House to proceed to consideration of H.R. 861, which would rescind $1 billion in funding for the Neighborhood Stabilization Program (NSP). The House will consider 10 amendments to that bill this afternoon.

The rule also allows consideration of H.R. 839, which would end the Home Affordable Modification Program. The House plans to take up that bill after next week's recess.

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  March 16, 2011, 1:31 pm

Dems urge GOP to mend, not end mortgage program

By Pete Kasperowicz

House Democrats on Wednesday afternoon argued that Republicans should fix a federal mortgage aid bill rather than repeal it, but Republicans nonetheless were on track to vote on repealing the program by the end of the day.

At issue is H.R. 861, which would prevent another $1 billion from being spent on the Neighborhood Stabilization Program (NSP), which funds the purchase and upkeep of foreclosed homes. This is one of three mortgage programs Republicans have already moved to terminate, and the GOP plans to terminate a fourth later this month.

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  March 16, 2011, 11:57 am

McConnell: Next spending bill must include full-year military spending

By Josiah Ryan

Senate Minority Leader Mitch McConnell (R-Ky.) said he won’t support any more temporary spending measures that do not include full-year funding for the military.

“I can say with total confidence that the House and Senate will not be passing another continuing resolution without defense spending for the rest of the year,” McConnell said during a colloquy Wednesday with Sen. John McCain (R-Ariz.) on the Senate floor.

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  March 16, 2011, 11:13 am

Senate seeks 5 percent cut in its own budget

By Josiah Ryan

The Senate passed an amendment, 98-1, Wednesday that recommends it cut its own operating budget by 5 percent.

Sen. Ben Nelson (D-Neb.), who chairs the Senate Appropriations Committee's Legislative Branch subcommittee, offered the 'sense-of-the-Senate' resolution and will now try to implement the cuts through the appropriations process.

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  March 16, 2011, 11:06 am

Reid: Spending plans need the support of both parties and both chambers

By Josiah Ryan

Senate Majority Leader Harry Reid (D-Nev.) said Wednesday that any spending plan will need the support of both parties and both chambers of Congress.

"Neither party can pass a bill without the other party, and neither chamber can send that bill to the president without the other chamber," he said. “If we're looking for a key study and why cooperation is necessary, that's as clear as it comes.”

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