Middle Class Borrower Protection Act of 2023

Floor Speech

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Mrs. BOEBERT. Mr. Chair, I rise in favor of my amendment, which will require the Government Accountability Office to make its report on the findings and conclusions of its study of the Federal Housing Finance Agency's loan-level pricing adjustment revisions publicly available online.

My commonsense amendment will provide transparency for the administration to answer to the American people.

The latest FHFA fee change could result in thousands of dollars in additional fees for lower risk homeowners over time, while encouraging and rewarding financial irresponsibility. This is a gross overreach and will ultimately contribute to the growing inflation problem we have in this country.

Raising housing costs at a time when mortgage rates are at their highest, thanks to the Biden-Pelosi spending spree, will make housing less affordable and will result in higher mortgage costs and reduced access to credit for most borrowers.

Joe Biden's agenda of equity over equality defies common sense and will endanger the stability of the housing market. The Republican majority is fighting tooth and nail to protect middle-class home buyers from Joe Biden's new socialist tax, which puts homeownership out of reach for the middle-class American.

Borrowers with excellent credit should not be punished for doing right and be forced to bear more financial burdens due to the fiscal irresponsibility of others.

Unelected bureaucrats in Washington should not have the ability to impose these un-American regulations on hardworking middle-class families. I am glad this bill puts an end to business as usual here in the swamp.

I thank the gentleman from Ohio (Mr. Davidson) for his leadership to block Joe Biden's new socialist tax to force middle-class borrowers to subsidize risky loans.

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Mrs. BOEBERT. Mr. Chair, I yield back the balance of my time.

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