(Read more on the debt and equity markets and more on the multifamily market.)

WASHINGTON, DC-The areas of potential standoffs between the Democratic-led Congress and President George Bush is spreading to potentially affect housing legislation. His latest veto threat is against H.R. 3074, the House appropriations bill for the Departments of Transportation, and Housing and Urban Development. The $105.6-billion bill would provide funding for federal housing programs, including $38.7 billion for HUD.

The rhetoric deployed by both sides is predictable: Among Bush’s complaints about the bill are the more than 2,000 earmarks for, among other things, “museums, zoos, gardens, gymnasiums, and golf courses, and diverts funds from such priority purposes as housing, low-income families, bridge repairs and highways.” Also, according to a White House statement, H.R. 3074 does not adopt any of Bush’s proposed terminations or reductions in programs “that have been shown to be ineffective or duplicative, which would have saved nearly $3 billion.”

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