Each passing day brings more layoffs, more foreclosures and more fear. This legislation will help get home buyers back into the marketplace, stabilize house prices, stem the rising tide of foreclosures and restore confidence in our housing finance system. There's no time to waste. Congress must finish the job now and pass this bill so that Americans can get some relief. The Senate bill attempts to ease the impact on communities of foreclosed homes by offering a $7,000 bad credit spread over two years to buyers of homes in or near foreclosure.For companies hit by the housing slump, the bill extends a tax break to let companies credit losses from the past two years against taxes paid over prior profitable years. Not only this The administration has also asked for voluntary support from banks to help distressed mortgage borrowers work out their debts.