He voted Yes on the final version of the College Cost Reduction Act of 2007 (H.R. 2669), which mandates interest rate cuts for students loans. It cut over $19 billion in subsidies to corporations that make student loans and reallocates that money to benefit students with higher grants and other programs. It passed 292 to 97 and was signed by President Bush on September 27, 2007.
Mike voted for the Expanding American Homeownership Act of 2007 (H.R. 1852). Passed with 348 Yes, 72 No, it authorized the Federal Housing Administration to help homeowners who are having trouble paying their mortgages. Presumably this is for sub-prime mortage holders.
Congressman Thompson joined a 312 to 110 majority for the Terrorism Risk Insurance Revision and Extension Act (H.R. 2761) (summary sheet), which subsidizes the insurance industry in the event of a terrorist attack, up to $100 billion. The insurance industry must have made some pretty hefty campaign donations to get this.
-- William P. Meyers
Thompson Watch Main Page
Mike Thomspon is the current elected member of the United States House of Representatives for California's 1st Congressional District.