[Congressional Record (Bound Edition), Volume 153 (2007), Part 9]
[House]
[Page 12641]
[From the U.S. Government Publishing Office, www.gpo.gov]




                               GSE REFORM

  (Mrs. BACHMANN asked and was given permission to address the House 
for 1 minute and to revise and extend her remarks.)
  Mrs. BACHMANN. Madam Speaker, promoting homeownership, especially 
homeownership for low and moderate income families, is a high priority 
for Republicans in this United States Congress. The GSEs, the Fannie 
Mae and Freddie Mac, have played a very important part in that goal. We 
ought to preserve that system, Madam Speaker, we ought to protect that 
system. However, Congress also has a responsibility to limit the risks 
that the GSEs pose to the United States taxpayers and their burden to 
that market.
  Many of my colleagues have been working for years to enact meaningful 
reform of the GSEs and their regulator. That's a good thing. But this 
year's bill goes far beyond improving the safety and the soundness of 
the GSEs by now taxing those portfolios to create an affordable housing 
fund.
  I agree with the Congressional Budget Office, Madam Speaker. This new 
assessment on the GSEs will be passed along to customers in the form of 
higher fees. It will raise the cost of purchasing a home or refinancing 
a mortgage. That is exactly the opposite direction that we want to go.
  I urge my colleagues to join me in opposing this fund.

                          ____________________