A compromise bill on housing goes to the floor of the Senate today.

The Foreclosure Prevention Act includes, as expected, $10 billion in tax-exempt bonds to be made available for local housing agencies to help refinance subprime mortgages and $100 million (down from $200 million) to expand counseling for homeowners.

The bill would raise the size of loans backed by the Federal Housing Administration to $550,000 but would not give the F.H.A. the ability to insure as much as $400 billion in mortgages.

It will also provide a new standard property-tax deduction of $1,000 for couples and $500 for individuals.

The compromise was hammered out with remarkable speed given that Republicans and Democrats seemed miles apart on the issue, amid much public bickering, just a few weeks ago. But political pressure to be seen as doing something to help homeowners is growing, especially after the federal government organized a rescue of Bear Stearns.

But Politico.com reports that "housing advocates are feeling steamrolled" because the Senate bill does not include a Democratic proposal to give bankruptcy-court judges the power to modify mortgages.