House passes housing bill

WASHINGTON (CNN) - The House of Representatives Wednesday passed sweeping legislation that will offer up to $300 billion in assistance to troubled homeowners and throw government support behind mortgage finance giants Fannie Mae and Freddie Mac.

The bill passed on a vote of 272 to 152, with 45 Republicans joining 227 Democrats to send the final bill to the Senate.

It could take the Senate a few days to deal with the bill because of a Republican filibuster threat.

President Bush on Wednesday dropped his vow to veto the bill, with a spokeswoman saying the need for aid to Fannie Mae and Freddie Mac is urgent enough for the president to overlook objections to other provisions in the bill.