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Latta Opposes Democrat Housing Market Correction Bills

By: Bob Latta
By: Bob Latta
Date: May 8, 2008
Location: Washington, DC
Issues: Housing and Property


LATTA OPPOSES DEMOCRAT HOUSING MARKET CORRECTION BILLS

Congressman Bob Latta (R-Bowling Green) made the following statement after the House considered H.R. 5818, a bill that attempts to stabilize the housing market, and H.R. 3221, a bill to prevent home foreclosures.

"The two housing market bills considered by the House today punish American taxpayers who have paid their mortgages on time with a $3 billion tax increase brought on by predatory lending. Part of this massive tax increase will provide cash payments to housing groups who foster this type of behavior, and Congress has the responsibility to put an immediate end to this waste of taxpayer money."

"Meaningful housing market reform must start with stricter enforcement of laws to prevent irresponsible lending and better financial education to consumers. It should also provide a boost to the housing market with market-based initiatives that have been introduced by my Republican colleagues."


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