Here’s the latest from NAR Governmental Affairs in Washington D.C.: (as of 4PM EDT on 10/30/09)

Although the Senate was not able to reach a procedural agreement to schedule a vote on the Unemployment Insurance extension, the Dodd-Lieberman-Isakson Amendment to extend and expand the Tax Credit is contained in the bill.

The Senate is expected to vote Monday evening for a “Motion to Invoke Cloture”. If 60 Senators vote yes on the cloture motion, the Senate will then be able to schedule a vote on the bill that contains the Dodd-Lieberman-Isakson Amendment.

Once the Senate acts, the tax credit must still go to the House of Representatives for action. NAR will continue to provide us with updates on the tax credit as events warrant.

Call Your Senator!

We are very close, but we need to ask for your help one more time! Please make a quick call to your Senator’s office today to ask for cloture on the Unemployment Insurance Extension bill that contains the tax credit provision. Again, this cloture vote is scheduled for Monday evening. Sixty Senators must vote yes so that a vote can be scheduled on the tax credit.

Click Here to enter your phone number and be connected to your senator’s office right now.

Thank you in advance for participating and showing why WRAR Members are the best!

There was an additional development in the Senate yesterday:

The FHA, Fannie and Freddie Loan Limits at the $729,750 level through December 31, 2010 was passed by the Senate and is now being sent to President Obama for his signature into law. Since the provision is part of the Continuing Resolution, which is necessary to keep the government operating, it is expected to be signed into law quickly. This was important victory for market stability across the board.