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US legislation milestone for housing market

Staff Reporter 1 minute read

The US Senate passed a landmark piece of housing legislation on Saturday to accelerate assistance to the troubled housing market.

The legislation will provide for US$300 billion in assistance for troubled home owners as well as a rescue plan for troubled government entities Freddie Mac and Fannie Mae.

President Bush is expected to sign the legislation early this week.

Published: 28-07-08


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