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Pelosi Statement on Sending Housing Bill to White House
Tuesday, July 29, 2008
Contact:Brendan Daly/Nadeam Elshami, 202-226-7616
Washington, D.C. – Speaker Nancy Pelosi issued the following statement today on the American Housing Rescue and Foreclosure Prevention Act, which passed Congress with bipartisan support last week. The bill is being enrolled by the House and the Senate this afternoon and will be sent later today to the President, who has announced that he will sign it into law.
“The New Direction Congress has passed the most far-reaching and historic reform of our nation’s housing finance system in a generation to restore confidence and stability to the housing market, the broader financial markets, and to get our economy moving and creating jobs again.
“By helping Americans avoid foreclosure, cracking down on predatory lending, protecting communities from the blight of abandoned homes, and providing generous tax incentives to encourage home ownership, this legislation will help strengthen the housing market and create jobs.
“This bill would not have happened without the outstanding leadership of the principal House authors, Chairman Barney Frank and Chairman Charles Rangel, as well as the strong efforts of Congresswoman Maxine Waters, who ensured that communities across America will receive funds to restore neighborhoods and prevent further declines in home values. I also want to thank Treasury Secretary Henry Paulson, who worked closely with Democrats in Congress to pass this legislation and ensured that the President would sign it into law.
“Homeownership is an essential part of the American Dream. By expanding homeownership opportunities and protecting families against foreclosure, we are helping keep the American Dream alive. By restoring confidence in the housing market, our economy can begin to grow and create jobs for the American people again.”
