Statement on House of Representatives Passage of Mortgage Forgiveness Debt Relief Legislation

In August, I proposed a comprehensive plan to help homeowners avoid foreclosures and stay in their homes. As part of this plan, I pledged to work with Congress in a bipartisan way to temporarily reform a provision of the Federal Tax Code to make it easier for homeowners to refinance their mortgages during this time of market stress. Today a bipartisan majority of the House of Representatives passed legislation to help people stay in their homes and move this process forward. I applaud the House's efforts. I urge the Senate to swiftly consider this legislation and make it temporary.