[Congressional Record Volume 146, Number 96 (Friday, July 21, 2000)]
[Extensions of Remarks]
[Page E1301]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




             SUPPORT OF THE AMERICAN DREAM OF HOMEOWNERSHIP

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                           HON. HENRY BONILLA

                                of texas

                    in the house of representatives

                        Thursday, July 20, 2000

  Mr. BONILLA. Mr. Speaker, America is the land of opportunity. More 
Americans have owned homes than any people in the history of man. 
However, the American dream is not a reality for far too many of our 
countrymen. For all too many Americans the dream of homeownership is 
just that, a dream, not a reality. Federal government actions have 
raised the cost of building materials leaving homes beyond the 
financial reach of many of our countrymen.
  The Softwood Lumber Agreement (SLA) between our nation and Canada 
continues to deny Americans the benefits of homeownership. It violates 
the spirit of NAFTA by creating barriers to commerce instead of ripping 
them down. It denies American consumers the competition that leads to 
increased choice and lower prices. The American people have waited far 
too long for a free trade agreement in softwood lumber. An IMF 
economist has estimated that the SLA increases new home costs as much 
as $1300 per home, denying over 300,000 Americans the ability to 
purchase a home according to Census Bureau projections.
  However, there is hope. We can have free trade in softwood lumber 
soon. The SLA is scheduled to expire on April 1, 2001 and we have the 
opportunity to share the benefits of free trade with home buyers. 113 
Members of Congress have joined me as cosponsors of H. Con. Res. 252, 
calling for free softwood lumber trade between the U.S. and Canada.
  The support for free trade is evident, but in order to make it a 
reality we need to negotiate a long term free trade agreement with 
Canada. Let's begin negotiations now to replace the SLA with a free 
trade agreement in softwood lumber and make housing affordable for more 
Americans. The American Dream should be a reality for all Americans.

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