"We believe this is not the time for a prolonged veto fight but we are confident the president would prevail in one," said White House Spokeswoman Dana Perino.
The bill, which won the support Tuesday night from key senators in both parties, will give the government the power to help troubled homeowners get new, cheaper loans and to offer besieged mortgage giants Fannie Mae and Freddie Mac a cash infusion.
The House was expected to vote on the bill late Wednesday, and it could then go back to the Senate for a final vote and become law as early as this week.
However, the White House has voiced its objections to the 3.9 billion dollar provision in the bill, saying that it was aimed at helping bankers and lenders, not homeowners who are in trouble.
Treasury Secretary Henry Paulson also complained that the provision is "wasteful", but noting he has urged President Bush to drop his veto threat over this provision because of the other important elements in the bill.
"This is a very important message that we are sending to investors around the world," he told reporters, saying the bill would play a key role in turning the corner on the housing crisis.
