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JOHNSON, CRAPO CONTINUE WORK ON HOUSING FINANCE REFORM

February 5, 2014

Washington, DC – Today, Senate Banking Committee Chairman Tim Johnson (D-SD) and Ranking Member Mike Crapo (R-ID) issued the following statement regarding their bipartisan effort to draft comprehensive housing finance reform.

“With the hearing and information-gathering stage behind us, our hard work continues as we dive deep into the drafting and negotiating phase of Housing Finance Reform. Our goal from the start has been to produce the strongest bipartisan bill possible—a bill that will strengthen the housing finance system while ensuring a level playing field for all lenders and access to credit for all creditworthy homebuyers, no matter where they live. Members of the Banking Committee continue to provide momentum for reform by expressing interest in advancing bipartisan legislation, and we recognize that we must build a broad bipartisan consensus for an agreement to have a chance at becoming law. For these reasons, it remains the Banking Committee’s top priority and as we heard last week in his State of the Union Address, a priority for the President. As we advance this bipartisan effort we are working to include smart, thoughtful ideas from all committee members, the administration, and others who have participated in our process.”

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