Bush To Veto House Passed Housing Aid Plan

     WASHINGTON (AP) - The House has passed a housing aid plan to
provide $300 billion in refinanced mortgages for struggling
homeowners.
     President Bush says he’ll veto the bill. It passed 266-154 with
support from 39 Republicans.
     The measure would let debt-ridden homeowners refinance into
fixed-rate, government-backed mortgages they could afford.
     Congressional analysts say it could help as many as 500,000
borrowers and cost $2.7 billion over the next five years.
     The White House calls it a burdensome bailout that would open
taxpayers to inappropriate risk and reward those who helped cause
the housing crisis.