WASHINGTON — Ending several weeks of political wrangling between the Senate Democrats and Republicans, the Senate on Wednesday night confirmed Small Business Administration Administrator Steven C. Preston to be secretary of housing and urban development.
Preston will be the Bush administration's point person during upcoming discussions aimed at reaching agreement on a legislative package aimed at providing relief to people effected by the subprime mortgage crisis. The House, Senate and White House have offered different proposals for how to insure up to $300 billion in refinanced mortgages.
The House passed a measure last month as did the Senate Banking Committee. The full Senate could take up a measure as early as next week.
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