February 14, 2008


WASHINGTON, DC – Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today issued the following statement on the announcement by Senate leadership of a housing stimulus package: “The face of the economic crisis is the housing crisis, and the face of the housing crisis is the foreclosure crisis. I've been working rigorously to find solutions to the problems of rising home foreclosures and the devastating impact they have on families and neighborhoods across our nation. I'm pleased that some of these ideas, including increased funding for local governments to buy abandoned and foreclosed-upon properties, are part of this package. But more needs to be done by the Administration, as well, to help people keep their homes. I chaired a hearing just this morning with the top three Administration economic officials to discuss additional steps that must be taken to curb foreclosures and to get our nation's economy back on track. I will continue working to that end, and welcome the ideas and insights of our Republican as well as Democratic colleagues both to maintain the American dream of homeownership and to keep our economy the strongest in the world.”