The American Housing Rescue and Foreclosure Prevention Act became the latest law of the land this morning when, in a simple ceremony attended only by a top Administration officials, Dubya signed the bill he once threatened to veto.
The muted reception is not a surprise. In addition to original White House opposition to the wide-ranging housing relief package (key tax provisions blogged here), the top Housing and Urban Development official still thinks the changes won’t do that much good for folks about to lose their homes to foreclosure.
HUD Secretary Steve Preston, who witnessed the bill signing today, just yesterday told reporters that a previous expansion of the Federal Housing Administration’s authority would have a "much more significant impact on Americans who need to refinance" than the bill Dubya signed today.
