Washington, Apr 8, 2008 -

Rep. John Carter (TX-31) made the following statement today after House Republicans unveiled principles for bipartisan housing legislation:

“Congress must work together to address the housing crisis and possible solutions to tackle the economic concerns of middle-class American families.  One thing is certain-raising taxes on the back of an uncertain economy is irresponsible and will only add to the problem. 

“These clear, responsible and balanced principles should guide this debate, and I hope Democrats will agree to work together to craft legislation that can become law with bipartisan support.”

NOTE:  House Conference Secretary John Carter joined other Members of the House Republican leadership team in unveiling the following principles for bipartisan housing legislation:

• Support Homeownership.  Homeownership is central to the American dream and a key part of our free economy. We need to keep the dream of homeownership within reach of middle-class families.

• Jump Start the Housing Market.  The best way out of the housing crisis to get Americans purchasing homes again. The housing market needs a jump-start, not a bail-out.

• Lower Taxes on Middle-Class Families.  Lower taxes on middle-class families will help increase homeownership.  We cannot tax our way to a housing recovery, and higher taxes on American families will only add to the middle-class squeeze.

• Help Needy Homeowners Who are Truly Victims.  We must address the threat to our economy and help needy homeowners who are truly victims without a taxpayer bailout that rewards reckless behavior.

• Reform and Transparency.  We must bring reform and transparency to the housing market and improve our overall economy, as well as ensure that this situation doesn’t become a feeding frenzy of trial lawyers eager to profit from people’s misfortune.  

• Fairness for Responsible Homeowners.  As a matter of fairness, we should stand up for Americans who saved and invested responsibly, not reward reckless behavior at the expense of those who did the right thing.

• Protection for Taxpayers.  We should protect taxpayers from having to bail out speculators and scam artists.

• Stake in the Outcome.  Anyone receiving government assistance should have to make a financial sacrifice and have a stake in the outcome.