Dodd Scandal No Hurdle To Housing Bill
The Senate on Tuesday voted overwhelmingly to end debate on legislation tackling the nation’s housing crisis, setting the stage for final passage of the bill, which could come later today. Some conservative Republicans had pushed to delay the vote in the wake of the news that the bill’s sponsor, Senate Banking Committee Chairman Christopher Dodd (D-Conn.), had received special rates on loans taken out from Countrywide Financial, which stands to benefit under the bill.
The push to embarrass Dodd, however, appears nowhere near as strong as the bipartisan effort to pass some form of foreclosure relief before the week-long July 4 recess, which begins Friday. Indeed, this morning’s cloture vote (to end debate on the bill) was 83 to 9.