Detailed Summary

<b>(This measure has not been amended since it was passed by the House on July 29, 2009. The summary of that version is repeated here.)</b>

Amends the Internal Revenue Code with respect to determination of the balances of the Highway Trust Fund September 30, 1998. Replaces the $8.017 billion Restoration of Fund balance appropriation with a $7 billion Increase in Fund balance appropriation (without fiscal year limitation).

Amends the Omnibus Appropriations Act, 2009 with respect to advances to the Unemployment Trust Fund and to the Black Lung Disability Trust Fund under the Employment and Training Administration (ETA) of the Department of Labor. Removes the FY2010 limitation on the appropriation as well as the specific dollar amount for such advances, replacing them with such appropriations as may be necessary.

Increases from $315 billion to $400 billion the maximum loan principal for FY2009 commitments to guarantee single family loans insured under the Mutual Mortgage Insurance Fund (MMIF) of the Federal Housing Administration (FHA).

Increases from $300 billion to $400 billion the limit on new Government National Mortgage Association (GNMA or Ginnie Mae) commitments to issue guarantees under the Mortgage-Backed Securities Loan Guarantee Program.

Status of the Legislation

Latest Major Action: 7/30/2009: Passed/agreed to in Senate. Status: Passed Senate without amendment by Yea-Nay Vote. 79 - 17. Record Vote Number: 254.

Points in Favor

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Points Against

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