House approves TARP clarification, help for muni market

01/22/2009 | Bond Buyer (subscription required), The

The House of Representatives has approved a measure that, in part, would make some of the $350 billion in the second half of the Troubled Asset Relief Program available to bolster the municipal bond market. Wednesday's 260-166 vote was seen as strengthening language in the original legislation and better targeting how the remaining $350 billion is used. The bill is not expected to receive approval in the Senate, but the widespread support should send a strong message to the president, said House Financial Services Committee Chairman Barney Frank.

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