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Blunt: Democrats Push Flawed Housing Legislation, Block Republican Attempts to Protect Taxpayers

WASHINGTON, July 23 /PRNewswire-USNewswire/ -- House Republican Whip Roy Blunt today released the following statement in opposition to the House Democrats plans to force through their housing bill, blocking attempts by Republicans to improve the legislation:

"You'd think a bill that reaches this far, this fast, this aggressively would've been put together with a degree of due diligence that looks out for the short- and long-term interests of the American taxpayer. But you'd be wrong.

"To be clear, I would have supported legislation to shore up our housing market and help struggling homeowners, but this is not the bill. House Democrats have refused to hold the necessary hearings before diving head-first into a billion dollar legislative package. Had this package been fully examined in an appropriate matter, it would have become very clear that the bill levies new taxes on the very same organizations it seeks to bail out, creating a fund to finance political groups, and gives banks an incentive to foreclose on properties.

"I believe rewarding, encouraging and reinforcing risky investments should not be the role of the government - and certainly shouldn't be financed by taxpayers. Given the opportunity, House Republicans have authored constructive legislation - pending in committee - that attempts to solve the problem at hand by protecting the taxpayers first, and ensuring we don't end up in the same predicament in the future."

NOTE: Appearing on National Review Online today is a column on the housing bill penned by Congressman Blunt.

SOURCE House Republican Whip Roy Blunt

Tags: ,RLT,FIN,POL,LEG,Blunt-housing-bill

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