Ensign Votes For Compromise To Help Housing
Market Economy
Senator
John Ensign voted for a bill today (April 10, 2008) that will help struggling
homeowners and stimulate the economy. Last week, Ensign joined with Republican
and Democratic leaders to help bridge a partisan
divide on how to help address the crisis in the housing market, and today’s
final bill is a result of that compromise.
“Republicans and Democrats came together and did what was right for
America. We passed a bill that will help families who are facing financial
difficulties because of the housing market,” said Ensign. “It’s a problem that
is not only impacting homeowners. Addressing it now is important because it
risks further dragging down our economy.”
Ensign included in the final bill an amendment that returns funds
to the U.S. Treasury after providing short-term assistance for neighborhoods
with high concentrations of foreclosures.
“I’m
pleased that my amendment was included because it better targets the funding for
those who need it while also keeping an eye on fiscal discipline,” said Ensign.
“This bill will help struggling families, better educate borrowers and
strengthen our economy.”
Additional details of the legislation are included below:
·
Updates the outdated Truth in Lending requirements, which do not
currently cover newer adjustable rate mortgages, to help consumers better
understand the loans they are considering
·
Provides a tax credit for the purchase of a home in or near
foreclosure
·
Triples the extension of foreclosure protection for veterans from
90 days to 9 months
·
Reforms the Federal Housing Administration so that more Americans
can take advantage of its safe, fixed-rate mortgages and increases the FHA loan
limit
·
Includes Net Operating Loss (NOL) Carryback so firms can fully
utilize rebate for past losses
Ensign, Reid Announce Senate Passage Of
Southern Nevada Readiness Center Act
Legislation sponsored by Senators John Ensign and Harry Reid that would convey
land from Clark County to be used by the Nevada National Guard for important
national defense and security purposes passed the Senate today.
“The Las
Vegas Readiness Center and the surrounding area will help prepare our soldiers,
both physically and technically, to respond to the missions of the Governor of
Nevada and the President of the United States,” Ensign said. “The men and women
of the Nevada National Guard are an extraordinary group, and we need to do all
we can to support them and enable them to do their jobs.”
The
Southern Nevada Readiness Center Act would allow Clark County, Nevada, to convey
land to the Nevada Division of State Lands for use by the Nevada National
Guard. The National Guard currently has an 80,000-square-foot facility on the
proposed land and will use the surrounding area for expansion of vehicle
maintenance facilities and emergency response support to First Responders in
weapons of mass destruction situations. The land will also provide a site for
the future Civil Support Team Ready Building.
“This is
important legislation because without it, Clark County would have to charge the
National Guard hundreds of thousands of dollars in rent each year,” said Reid.
“Instead of using their resources to pay for rent, the Nevada Army Guard can
concentrate on protecting Nevada and training for the global war on terror.
These facilities will provide a location for approximately 430 soldiers in
signal, medical, engineer and maintenance units.”
The
Southern Nevada Readiness Center Act was included in the omnibus lands bill, S.
2739, that passed the Senate today. Congressman Jon Porter led the effort in
the House of Representatives by sponsoring companion legislation that passed
last year.
