WASHINGTON (5/7/14)--Senate Banking Committee Chairman Tim Johnson (D-S.D.) said Tuesday that his housing finance reform bill could pass by a 13-9 vote, or better, when the panel resumes its markup on the legislation next week (Politico May 6).
It was already widely anticipated that the Johnson-Crapo reform bill would pass the committee with the support of 12 of the panel's members, including Johnson, the committee's ranking member, Rep. Mike Crapo (R-Idaho), and 10 others who backed similar legislation last year as co-sponsors.
Politico reported that Johnson, during a brief interview, declined to identify 13th senator he believes will support the legislation.
When a committee vote on the bill was postponed at the end of April, Johnson said, the delay would aid discussions that would "build a larger coalition supporting the bill."
"While we have the votes to report the bill out today, members of the committee have asked for a brief delay to try to work out additional issues prior to a final vote," he explained.
The legislation is a 425-page plan, known as the Housing Finance Reform and Taxpayer Protection Act of 2014 (S. 1217), which would overhaul the housing finance market and address the issues created by the current government ownership of Fannie Mae and Freddie Mac.