Bush drops opposition to housing bill

USA Today reports:

Just hours before the House is set to vote on a housing bill, the White House announced that President Bush has dropped his opposition to the measure, meaning that it could become law in the coming days.

"The Bush administration and lawmakers in both parties teamed to negotiate the measure, which pairs Democrats' top priorities -- federal help for homeowners facing foreclosure and $3.9 billion for neighborhoods hit hardest by the housing crisis -- with Republicans' goal of reining in mortgage giants Fannie Mae and Freddie Mac while reassuring financial markets of their stability," AP reports. "Bush had objected to the $3.9 billion provision in the measure, saying that it was aimed at helping bankers and lenders, not homeowners who are in trouble."

The House is set to vote on the bill later today.