Senate panel to vote on housing finance bill next week

enate Banking, Housing and Urban Affairs Committee Chairman Sen. Tim Johnson (D-SD) (L) with ranking member Sen. Mike Crapo (R-ID).
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The Senate Banking Committee will vote on a bill to revamp the U.S. housing finance system next week, a Senate aide said on Tuesday.

Committee Chairman Tim Johnson, a Democrat, and Senator Mike Crapo, the panel's top Republican, had previously delayed scheduling votes on the bill in order to build more support for the plan that would wind down taxpayer-owned mortgage financiers Fannie Mae and Freddie Mac.

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Six Democrats and six Republicans on the 22-member committee are prepared to back the bill, but the leaders want a broader base to pressure Senate Majority Leader Harry Reid to let the legislation come up on the Senate floor.