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JOHNSON STATEMENT AT THE START OF THE HOUSING FINANCE REFORM MARKUP

April 29, 2014

Washington, DC – Today, Chairman Tim Johnson (D-SD) kicked off consideration of bipartisan Housing Finance Reform. However, at the request of some of the Members of the Committee for more time Chairman Johnson agreed to recess the markup for a short period while Members continue to work on finding additional common ground.

Below is Chairman Chairman Johnson’s Statement as Prepared for Delivery.

“We will now move to the consideration of S. 1217, the Housing Finance Reform and Taxpayer Protection Act of 2014. This legislation, offered by Senators Corker and Warner along with a number of our other colleagues on this Committee, would wind down Fannie Mae and Freddie Mac and reform the housing finance system.

“As all of the Members already know, there continue to be important discussions to build a larger coalition supporting the bill. While we have the votes to report the bill out today, Members of the Committee have asked for a brief delay to try to work out additional issues prior to a final vote. To allow time for those discussions to be completed, we will shortly recess the executive session subject to the call of the Chair. I have talked with Ranking Member Crapo, and we will continue working with interested Members on both sides. Staff will notify Members when the Committee is set to reconvene in the coming days.”

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