Statement by the Press Secretary: President Bush Signs the Clean Boating Act of 2008 and the Housing and Economic Recovery Act of 2008 Into Law

On Tuesday, July 29, 2008, the President signed into law:

The Clean Boating Act of 2008, which exempts certain discharges incidental to the normal operation of a recreational vessel from regulation under the Clean Water Act.

On Wednesday, July 30, 2008, the President signed into law:

The Housing and Economic Recovery Act of 2008, which authorizes the Department of the Treasury to purchase obligations of housing Government Sponsored Enterprises (GSEs); reforms the regulatory supervision of the housing GSEs; provides reform of the Federal Housing Administration; provides homeownership assistance and reforms to mitigate recent increases in foreclosures; and contains housing-related tax incentives and other tax provisions.