House Republicans Act to End Costly, Ineffective Housing Programs


Washington, D.C. – March 11, 2011 – (RealEstateRama) — House Republican Policy Committee Chairman Tom Price, M.D. (R-GA) issued the following statement after the House of Representatives voted this week to end two expensive and ineffective government foreclosure programs. The FHA Refinance Program Termination Act (H.R. 830) and the Emergency Mortgage Relief Program Termination Act (H.R. 836) would save taxpayer dollars while rolling back irresponsible government intervention in the housing market.

“An unfettered belief in the wisdom of Washington has led Democrats to pursue economically and fiscally unsound foreclosure programs that have failed taxpayers and struggling American homeowners,” said Chairman Price. “Both of these programs represent how foolish and ineffective it was for the previous Democrat majority to try to micro-manage the American housing market. They put taxpayers on the hook for billions of dollars we do not have, and went about with their failed experiment. Their reckless actions and the failure of these programs prove that Washington simply cannot manipulate the housing market and the economy at-large back to health.”

“Under our new Republican majority, the days of spending what we do not have on programs that do not work is over. House Republicans are restoring responsibility as to how taxpayer dollars are spent. We are fighting for policies that will help more Americans find jobs so they can afford to provide for their families and stay in their homes.”

Ryan Murphy


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