Senate Strikes Housing Rescue Deal

Bill could go to the floor within days.


Senate leaders said Tuesday that they had reached agreement on a housing rescue bill, Reuters reports.

Next step: negotiations with the House.

From Reuters:

The legislation was expected to be considered by the full Senate within days, with lawmakers keen to deliver a final bill to President George W. Bush by July 4.

Rep. Barney Frank, chairman of the House of Representatives Financial Services Committee, in an interview with Reuters called the Senate bill "good progress."

But the Massachusetts Democrat said, "It's not yet where we should be.... To the extent that people say the House will just accept the Senate bill, that's not appropriate."