Middle Class Borrower Protection Act of 2023

Floor Speech

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Mrs. BICE. Mr. Chairman, I thank my colleague from Ohio (Mr. Davidson) for yielding.

When this news broke that the FHFA organization had passed a rule to change how this particular policy was put in place, I immediately went to him and I said: We need to fix this, and here we are.

I am proud to stand in support of this legislation, which I am collating with Congressman Davidson. Under the rule from the Federal Housing Finance Agency, home buyers with good credit scores will be forced to pay more for their mortgages to subsidize loans to higher risk borrowers, and that is why the Middle Class Borrower Protection Act is so important.

It will roll back this administration's senseless rule and stop the anticapitalist agenda. Similar to the student loan scam, the President is, once again, trying to bypass Congress and centralize more power in the hands of the executive branch.

Since President Biden took office, he has increased the role of the Federal Government in the lives of everyday Americans, and this is a perfect example.

With sky-high mortgage rates, the last thing we need is to add more fees and burdens on hardworking Americans and certainly hardworking Oklahomans in my district. I stand in support of this legislation, and I urge my colleagues to support the bill.

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