Sep 29, 2012 9:56 AM by Summer Yu

Obama calls on congress to approve refinance plan

WASHINGTON (AP) - President Barack Obama is blaming congressional Republicans today for not passing legislation he proposed in February that would lower lending rates for millions of borrowers who have not been able to get out from under burdensome mortgages.

In his weekly media message, Obama cited historically low mortgages and pressed Republicans to back housing policies the White House says would help struggling homeowners refinance their debts and prevent foreclosures.

For the Republicans, Arizona congressional candidate Vernon Parker faulted U.S. corporate tax rates for pushing jobs overseas. He says the country needs "a pro-growth tax code that brings jobs home and keeps jobs here."

He also called for the repeal of Obama's health care law.


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