Stutzman: "Washington Stacks the Deck Against Taxpayers by Hiding the True Cost of Big Government"

Statement

U.S. Congressman Marlin Stutzman, a member of the House Committee on Financial Services, issued the following statement today after the House of Representatives passed the Budget and Accounting Transparency Act of 2014, legislation that brings Fannie Mae and Freddie Mac on-budget for an honest accounting.

"Washington stacks the deck against taxpayers by hiding the true cost of Big Government. Although they received the biggest taxpayer-funded bailout in American history and put taxpayers on the hook for trillions in loan guarantees, Fannie and Freddie's cost won't be found in the President's budget. Today's legislation will bring these costs into the open.

"This is an important step for taxpayers and consumers. By honestly accounting for these massive government enterprises, we move closer to our goal of phasing out this broken system and giving more control to families instead of Washington bureaucrats."

Background:

·H.R. 1872, the Budget and Accounting Transparency Act of 2014, requires that Washington's budgets include receipts and disbursements of Fannie Mae and Freddie Mac as new budget authority, outlays, receipts, defects or surpluses.

·Congressman Stutzman is also a co-sponsor of H.R. 2767, the PATH Act, which would responsibly phase out Fannie Mae and Freddie Mac over a five year period.

Source