AH Fund Vote Stymied

Efforts to bring the GSE regulatory reform bill to the House floor for a vote continue be stymied by a major disagreement over a provision that would require Fannie Mae and Freddie Mac to fund affordable housing."We really want to bring it to the floor," House Majority Leader Tom Delay, R-Texas, said Sept. 15 after a meeting to resolve the affordable housing issue failed. "As soon as we can get a consensus, we'll bring it to the floor," Rep. Delay said. Earlier in the week, House Financial Services Committee Chairman Michael Oxley, R-Ohio, made a move to improve the GSE bill's chances by devoting all the AH funds (for the first two years) to areas struck by Hurricane Katrina. However, a bloc of conservative Republicans remain concerned that Fannie and Freddie will distribute funds to liberal groups that engage in voter registration drives or lobbying. "We don't want the ACORNs of the world getting these funds," a House Republican aide said, referring to the Association of Community Organizations for Reform Now. Negotiations are expected to continue, but plans to vote on the government-sponsored enterprise bill during the week of Sept. 19 appear to be on hold.