[Congressional Record (Bound Edition), Volume 163 (2017), Part 1]
[House]
[Page 1170]
[From the U.S. Government Publishing Office, www.gpo.gov]




             HOMEOWNERSHIP FOR THE WORKING AND MIDDLE CLASS

  (Mr. KRISHNAMOORTHI asked and was given permission to address the 
House for 1 minute.)
  Mr. KRISHNAMOORTHI. Mr. Speaker, for millions of Americans, 
homeownership stands as a source of personal and economic security and 
is a defining part of the middle class life.
  Earlier this month, under President Obama, the Federal Housing 
Administration announced a plan to make mortgages more affordable for 
nearly 1 million working and middle class families who are buying their 
first homes. In his first hours in office, President Trump reversed 
President Obama's plan with an executive action that will cost 
Americans an average of $500 more per year to get a mortgage. Experts 
project that 40,000 families who would have bought homes will no longer 
be able to do so.
  The Trump administration's order to make mortgages more expensive 
will not strengthen our economy; it will not create jobs; it will not 
make America great again--but it will make life harder for working 
families.

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