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Despite some recent kickback from Senate Democrats, the Johnson-Crapo reform bill that plans to phase out Fannie Mae and Freddie Mac passed the Senate Banking Committee by a bipartisan vote of 13-9. The legislation is an agreement between Chairman Tim Johnson (D-South Dakota) and Ranking Member Mike Crapo (R-Idaho) "designed to stabilize the housing finance market and strengthen the American economy," the committee said in a press release.
Read More »Johnson-Crapo Bill Clears Senate Banking Committee
