Issue: H.R. 836 To rescind the unobligated funding for the Emergency Mortgage Relief Program and to terminate the program.
Result: Passed in House: 242 – 177, 13 not voting. Democrats scored.
Bill Summary: Terminates the Department of Housing and Urban Development’s Emergency Mortgage Relief Program (EHLP) and rescinds the unobligated funding. CBO CBO estimates the legislation would decrease federal budget deficits by $840 million over the 2011-2012 period.
Analysis: The EHLP, authorized by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, provides up to $50,000 in subsidized loans to homeowners who are at least three months delinquent on their mortgages because of the temporary loss of employment and income. A generous but unconstitutional response to a financial crisis caused by too much government. A vote to terminate the EHLP is a principled, but posturing step for House Republicans, as there are not enough votes to override Obama’s threatened veto. However, we give credit to those Democrats who stood tall in support of the measure.
We have assigned (good vote) to the Ayes and (bad vote) to the Noes. (P = voted present; ? = not voting; blank = not listed on roll call.)