TWICAPR408

(TheWeekInCongress.com) April 2, 2008) - The House agreed to HR 5501, a bill that continues the US strategy to fight AIDS and other communicable diseases. The issue of combating AIDS, particularly in Africa, has been a priority of President Bush and Congress over the past several years but the approach has been one of emergency response. This bill aims to reauthorize as a vehicle of a long-term strategy.

The bill makes clear that prevention strategies will include "strong emphasis on delay of sexual debut, abstinence, partner reduction, and life-skills programs, particularly for women and girls." In addition to that approach, the bill requires that the Office of US Aid to Developing Countries to "develop a plan to combat HIV/AIDS by strengthening health policies and health systems in Host countries."

The President is authorized to increase resources to the World Health Organization regarding tuberculosis and create a coordinator position is established to oversee efforts to fight malaria globally. The Secretary of the Treasury shall instruct the US Executive Director at the International Monetary Fund to oppose any program of the International Monetary Fund that does not exempt increased government spending on health care from national budget caps or restraints, hiring or wage bill ceilings, or other limits sought by any international financial institution.

The bill is named after two deceased House Members who chaired the House International Affairs Committee. Republican Henry Hyde chaired the committee under the Republican Majority and Democrat Tom Lantos chaired it under the Democrat majority until his death last month.

HR 5501 bill report with votes and amendments

SENATE WRANGLES OVER AID TO MORTGAGE CRISIS

The Vehicle for the Legislation is a House-Passed Energy Bill.

(TheWeekInCongress.com) April 3, 2008 - Senate leaders have come to some terms regarding a bill that would provide funds to purchase defaulted subprime mortgages.

Although the bill appears to focus particularly on helping buyers facing foreclosure due to ballooned payments through subprime loans, it would spend greatly on putting homes back on the market rather than, as supporters expressed, having them sit vacant thereby lowering housing values in the same neighborhoods. Local governments would receive $4 billion for the proposed buyouts, builders would benefit from $6 billion in tax breaks largely allowing for the 'carryback' of debts to 2004, local housing authorities would see $1.7 billion to leverage $10 billion in tax-free bonds to refinance sub prime loans, and a $7,000 tax credit would benefit those buying vacant homes. The Senate bill, like the House stimulus package would include funds for housing counseling. The effort is funded around $100 million and aims to help them avoid foreclosure.

The Senate bill is expected to increase by hundreds of billions the cap on government mortgage lending agencies loan portfolios allowing those agencies to refinance some mortgages. The cap on FHA loans would be raised to $550,000. Home purchasers would be required to prove their ability to meet mortgage payments.

The House addressed the nation's mortgage woes in November 2007 in HR 3915. The bill was considered and passed before the recent failure of an investment bank and other data indicating that the housing bubble was deflated leaving behind substantial debts that the large mortgage markets could not absorb. HR 3915 looks specifically to reforming and regulating the mortgage lending market with the goal of improving consumer protection and eliminating what are called predatory lending practices.

Amendments to HR 3221

The bill would not allow bankruptcy judges to lower mortgage interest rates owed by bankruptcy claimants The Durbin amendment to implement that provision was tabled 58 to 36. Other amendments found a similar fate: The Murray amendment to increase funds for housing counseling was tabled 44 to 40. The Kyl amendment to adjust housing values to a formula of multiplying the dollar amount times the cost of living adjustment in 1992 failed 41 to 44. The Landrieu (D-LA) amendment regarding casualty loss deductions and other matters of concern to Gulf Coast residents was agreed to 74 to 5 ,and the Voinovich (R-OH) amendment, with the idea of protecting jobs, extends the depreciation incentive to loss companies that have accumulated alternative minimum tax and research and development tax credits was agreed to 76 to 2.

Amendments pending include the Sanders (I-LA) amendment that aims to set usury rates on credit cards that are being more frequently used to pay increasing mortgage costs, tthe Cardin (D-MD) amendment to to allow a credit against income tax for the purchase of a principal residence by a first-time homebuyer, and the Nelson (D-FL) amendment to allow withdrawal from retirement accounts without the 10% penalty for use of avoiding foreclosure and waiving tax liability if the funds are replaced in two years.

HR 3221 (House Energy Bill) Further action on the bill will continue during the week of April 7th.

HR 3915 (House Mortgage Reform Bill)

Bills Require Internet Pharmacy Registration; Restrict Trade in Certain Wildlife; Study Oceans and Coasts; Administers Fire Prevention.

Internet Drugs

US and foreign companies distributing controlled substances are required to produce necessary identifying data for pharmacists and consulting practitioners. Fines for violations reach $5 million and 30 years in prison.

S 980

Wildlife Trading

Interstate and foreign commerce in prohibited wildlife is prohibited.

HR 4933

Oceans & Coasts

Two bills provide for increased monitoring of Ocean Resources. HR 2342 sets up a variety of monitoring processes the data collected is to be used for will be dispersed to support national defense, marine commerce, energy production, scientific research, ecosystem-based marine and coastal management and public safety and welfare.

Under HR 3352 The EPA Administrator is authorized to acquire hydrographic data and provide services to support conservation and management of coastal and ocean resources, save and protect life and property, support commerce after emergencies and meet homeland security needs and maritime awareness.

Forest Fire Prevention

The US Fire Administration coordinates nationwide and interstate efforts to prevent and fight forest fires. The bill reauthorizes the Administration and increases response training.

HR 4847

The House is adjourned until Tuesday, April 8th.

The Senate will continue consideration of HR 3221 addressing the US mortgage crisis.