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Week of March 31st
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HOUSING: As the Senate returns from a short break, the first piece of legislation on our agenda is the Foreclosure Prevention Act. As a co-sponsor of this bill, I am hopeful that we will receive sufficient bipartisan support to move this important package of legislation forward. It would help current homeowners on the brink of foreclosure by changing bankruptcy provisions, expanding revenue bond authority to restructure subprime and adjustable rate mortgages, and increase the availability of counseling for homebuyers seeking mortgages.
As a member of the Judiciary Committee, I will be working with the committee this week to pass a specific provision on bankruptcy called the Helping Families Save their Homes in Bankruptcy Act. Currently, judges can work to restructure a loan on a vacation home or boat but cannot do the same to keep a family from foreclosure on their primary residence. This bill would change that and bring fairness to this part of the bankruptcy code.
I'll also be introducing a First-Time Homebuyers' Tax Credit that is designed to stimulate the economy, particularly the critical housing market. This would provide a refundable tax credit to individuals or couples for use toward a down payment or closing costs. We need to balance our response to the current housing crisis by providing a lifeline to current homeowners in need and provide the tools to help prospective buyers realize the American Dream of homeownership.
IRAQ: I will participate this week, as a member of the Foreign Relations Committee, in a number of hearings on our next steps in Iraq. We will hear from former military officials, key policy experts, and academics, on military and political prospects after the current "surge." This will be a prelude to next week when US Ambassador to Iraq Ryan Crocker and General David Petraeus, current Commanding General of the multi-national forces in Iraq, will testify.
CITIZENSHIP/PASSPORTS/ID: Midweek, as a member of the Judiciary Committee, I plan to join the oversight hearing featuring Homeland Security Secretary Michael Chertoff. Among other vital issues, I will question him on reducing the large backlog of pending citizenship cases from legal immigrants; recently enacted passport requirements for Americans traveling to Canada, Mexico and the Caribbean; and the REAL ID Act.
UPCOMING MEDIA: Monday afternoon, tune into WYPR (88.1 FM- Baltimore Metropolitan Area/Frederick/Hagerstown/Suburban Washington, 106.9 FM- Eastern Shore) at 1:00pm as I talk live with Dan Rodericks during his new radio show. And for those of you on the Eastern Shore, I'll also be talking with Bill Reddish on Thursday morning at about 7:30am on WICO-1320AM (Delmarva Broadcasting).

