DAILY FISCAL POLICY REPORT -- Mar. 13, 2008

Budget Resolution -- Votes on Amendments and Substitutes:
  • Senate: Voting is expected all day -- and night -- on amendments, concluding with a rapid-fire vote-a-rama. As of last night, these were the pending amendments.
  • House: Voting is also expected, but on a smaller number of amendments and the following substitutes offered by the GOP, the Progressive Caucus, and the Congressional Black Caucus.
Final votes in each chamber on their respective budget resolutions are expected on Friday Earmarks -- Moratorium Moribund?: The predictions are dire for today's likely vote on Sen. DeMint's amendment to ban earmarks for one year. Senate leadership does not support it and Judd Gregg, Budget Committee ranking member and noted Senate fiscal hawk, dismissed it as a "crock." Story/Graph. Housing -- Foreclosures Up 60% in February: One in 557 homes in the U.S. is in default today. Foreclosures skyrocketed 60 percent last month, the 26th consecutive month of year-on-year monthly foreclosure increases. Story. Sen. Jack Reed (D-RI) has introduced a bill in the Senate (S. 2391), to address the problem by providing affordable housing relief. Opinion.
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