Nevada Senator Calls for Renewable Energy in Housing Bill

Nevada Senator John Ensign (R) has raised a fuss that may be delaying the housing bill being considered in the Senate currently.

The bill is Congress' most comprehensive and ambitious response to the housing crisis, offering the chance for nearly 400,000 homeowners to trade mortgages with skyrocketing interest rates for fixed-rate packages with government-backed loans.

Ensign, however, wants none of the bill if it doesn't include a proposed amendment to add $6 billion in tax breaks encouraging renewable energy renovations and implementations for homes.

While many Democrats approve of measures to increase use of renewable energy, they oppose Ensign's bill, which does not pay for itself.

His proposal would likely languish in the House of Representatives, where a majority of Democratic representatives have pledged not to vote for bills that would increase the deficit.

It remains to be seen whether Ensign's one-man battle can last long.  Senate Majority Leader Harry Reid, Ensign's counterpart from Nevada, expects the housing bill to be voted on early next month.

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This entry was posted on Thursday, June 26th, 2008 at 10:50 am and is filed under Mortgage Foreclosure. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

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