President Bush recommended a significant regulatory overhaul of the housing finance industry in 2003, but many Democrats opposed his plan, fearing that tighter regulation could greatly reduce financing for low-income housing, both low- and high-risk. Bush opposed two other acts of legislation: Senate Bill S. 190, the Federal Housing Enterprise Regulatory Reform Act of 2005, which was introduced in the Senate on January 26, 2005, sponsored by Senator Chuck Hagel (R–NE) and co-sponsored by Senators Elizabeth Dole (R–NC) and John Sununu (R–NH). S. 190 was reported out of the Senate Banking Committee on July 28, 2005, but never voted on by the full Senate.