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Groundwork for the establishment of a national affordable housing trust fund was laid last fall, when the House of Representatives passed legislation (H.R. 2895) that House Financial Services Committee Chairman, Rep. Barney Frank, D-Mass., had introduced, and when Sen. Jack Reed, D-R.I., introduced a companion bill in the Senate (S.2523), which was almost identical to the House bill. The Senate bill has already been referred to the Senate Banking Committee, which is chaired by Sen. Chris Dodd, D-Conn.
