House Appropriations Committee Marks Up Commerce, Justice, and Science Bill
On Wednesday, July 13, the full House Appropriations Committee voted and approved the fiscal year (FY) 2012 Commerce, Justice, and Science appropriations bill. The bill includes $70 million for Second Chance Act Programs, which represents a $30 million decrease from FY 2011 and $30 million less than the amount requested by the Administration in its budget proposal.
Financial Services Subcommittee Passes Bill Aimed at Dismantling Government Sponsored Enterprises (GSE)
Last Tuesday, July 12, the House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises passed H.R. 2441, the Housing Trust Fund Elimination Act of 2011, which intends to dismantle the National Housing Trust Fund, originally introduced to the Subcommittee by Representative Ed Royce (R-CA). The Trust Fund was established in 2008 but it has not yet received the $1 billion funding necessary for capitalization. H.R. 2441 was one of seven bills passed by the Subcommittee intended to dismantle the Government Sponsored Enterprises (GSEs) Freddie Mac and Fannie Mae. The full Committee may take some action on GSE reform as soon as the fall.