Fannie Mae and Freddie Mac would continue paying all of their profits to the Treasury for the next five years under bipartisan Senate legislation designed to wind down the U.S.-owned mortgage financiers and overhaul the government’s role in the housing market.
U.S. Senator Pat Toomey, a Pennsylvania Republican, said he wouldn’t rule out proposing legislation to protect money market mutual funds from new rules being planned at the Securities and Exchange Commission.
Democratic U.S. Representative Joe Sestak has pulled within two percentage points of former Republican Representative Pat Toomey in the race for a U.S. Senate seat from Pennsylvania, after trailing by seven points a month ago, a poll released today shows.
U.S. Treasury Secretary Timothy F. Geithner said it would be “quite harmful” if Congress moved forward with proposed debt-limit legislation from U.S. Senator Pat Toomey , a Republican from Pennsylvania.
The suggestion by some congressional Democrats that the George W. Bush-era tax cuts be allowed to temporarily expire is a “disturbing” position that could send the economy back into recession, U.S. Senator Pat Toomey said.