Senate Republican tries to tack renewable tax extensions onto housing bil
His attempts have stalled the housing bill, which would overhaul mortgage finance and create programs to help borrowers refinance. The Senate is supposed to go into recess today for the July 4 holiday, but Majority Leader Harry Reid (D-Nev.) has threatened to keep it in session until this is resolved. Though the tax extensions are strongly supported by Democrats, they want the extensions to be paid for by closing loopholes for hedgefunds. Republicans are onboard with the tax extensions, but they don’t want the pay-fors — especially if they come by closing loopholes for friends.