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The Daily Truth About the Democrats’ National Energy Tax

The Daily Truth About the Democrats’ National Energy Tax

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 Matt Lloyd or Mary Vought at
(202) 226-9000 or matt.lloyd@mail.house.gov