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Senate Democrats Helping Americans to Address the Housing Crisis
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February 26, 2008 - Senators Richard Durbin, Charles Schumer, Sherrod Brown, and Amy Klobuchar held a press conference today to discuss Senate Democrats' efforts to address the housing crisis and help families threatened with foreclosure stay in their homes. They were joined by an Ohio family and a coalition of organizations who support the Foreclosure Prevention Act. The legislation will help struggling families keep their homes, help others avoid foreclosure in the future, and help communities recover from foreclosures and plummeting property values.
"We should be giving families every reasonable tool to ensure they can keep a roof over their heads instead of giving banks every opportunity to keep padding their bottom line," Senator Richard Durbin said. "Today the Senate is proposing small changes to an outdated bankruptcy code which could help hundreds of thousands of families keep their homes. We need to focus on preventing these families from drowning in financial difficulties instead of worrying about keeping the banking lobby afloat." Read more.
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The Senate will convene at 2:00 p.m. and will be in a period of morning business with Senators permitted to speak for up to 10 minutes each, with the time until 5:30 p.m. equally divided and controlled between the two Leaders or their designees. There will be no roll call votes on Monday.
Senators should be prepared to vote as early as 11:00 a.m. on Tuesday in relation to the following items: the McConnell amendment No. 4720 (energy) with a 60-vote threshold; the Reid amendment (energy) with a 60-vote threshold; passage of the flood insurance legislation (either S. 2284 or H.R. 3121); and cloture on the motion to proceed to H.R. 980 (collective bargaining).
If cloture on the motion to proceed is invoked, all post-cloture time will be yielded back and the motion to proceed will be agreed to.
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