Latest: Coleman, Klobuchar Back Housing Relief Bill

Pamela Brogan

St. Cloud Times

WASHINGTON — Republican Sen. Norm Coleman and Democratic Sen. Amy Klobuchar voted today for legislation that provides aid to homeowners and businesses struggling because of the housing crisis. The bill passed the Senate 84-12.

There were 551 home foreclosures in Stearns and Benton counties last year, up form 317 in 2006, according to the county sheriffs’ departments that monitor foreclosures. There have been 101 foreclosures in the two counties during the first two months of this year.

The bill provides tax credits of $7,000 to people buying foreclosed homes and additional tax breaks for homebuilders, a measure aimed at slowing layoffs. It also adds $10 billion for revenue bonds to be used to refinance subprime loans.