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Protect Taxpayers Against Fraud

Floor Speech

Date: March 6, 2009
Location: Washington, DC
Issues: Housing and Property


PROTECT TAXPAYERS AGAINST FRAUD -- (House of Representatives - March 06, 2009)

Mr. WILSON of South Carolina. Madam Speaker, yesterday Congress passed a housing bill that lacked a basic protection for American taxpayers. Republicans offered an amendment that would have prohibited anyone from receiving assistance under the bill if they misrepresented or lied about their income when applying for a mortgage. I had offered a similar amendment last week, but the majority refused to even consider it. They refused to apply this commonsense measure of protection for taxpayers who have already seen trillions of their dollars spent to bail out irresponsible behavior.

As a former real estate attorney, I have seen the tremendous benefits of homeownership. I have also seen the tragedy of foreclosure. No one is advocating that we do nothing. But it appears the good intentions have gotten in the way of good solutions, such as a $15,000 home purchase tax credit proposed by the Homebuilders Association and Realtors Association. We have to stop rewarding bad behavior with the money of those who played by the rules.

In conclusion, God bless our troops, and we will never forget September the 11th.


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