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The Ensign/McConnell “Fix Housing First” amendment would offer government backed fixed mortgages at 4% to “any credit worthy” borrower either to purchase a new home or refinance. This plan, which reportedly could cost as much as $200 billion dollars, is a flagrant misuse of taxpayer funds and in essence creates a new housing entitlement fund.
This amendment's cost violates the pay-as-you-go requirements of the Budget Act, so a point of order was raised against the amendment. The vote being scored would waive that point of order and allow the amendment to proceed to a vote on final passage.