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The Daily Truth About the Democrats’ National Energy Tax |
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JULY 1, 2009
Truth #2: Democrats Want Fannie and Freddie to do to our National Energy Policy what They Have Done to the Housing Market
What the bill does: The House-passed energy bill provides additional credit for Fannie Mae and Freddie Mac to advance energy efficient and “location-efficient" mortgages. The bill also authorizes the U.S. Department of Housing and Urban Development to guarantee portions of a mortgage used to “green” single-family and multi-family housing. (Sec. 286 of the Manager’s Amendment, p. 112, and Sec 299I of the Manager’s Amendment, p. 173.)
What this means for Americans: These provisions put taxpayers on the hook for more mortgages that may default. Fannie Mae and Freddie Mac have made taxpayers potentially liable for more than $5 trillion in our current housing crisis. Instead of reforming Fannie and Freddie, why are Democrats expanding their authority into energy policy?
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For additional information, contact:
The House Republican Conference Press Office at (202) 226-9000 orMatt Lloyd (matt.lloyd@mail.house.gov)
Mary Vought (mary.vought@mail.house.gov)
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