The Congressional Budget Office has issued their cost estimate for the new borrowing authority proposed last week by the Administration for the Housing GSE's (Fannie Mae and Freddie Mac).
CBO estimates a $25 Billion impact for FY 2009 and 2010 and says there is a 50% chance the authority would be used.
The CBO cost estimate can be found HERE: a related summary post to the blog of the CBO Director is HERE.
It appears likely that the House will begin debate on the overall housing reform bill recently passed by the Senate tomorrow; the expectation is that the Housing GSE legislative proposals will be added as amendments as the bill is considered by the House.
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