Obviously, $943 million is a lot of money and is of great concern to us, or to me.
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It's important because it provides mortgage insurance for the construction of multifamily housing, hospitals, healthcare facilities.
In order to avoid this problem, could HUD require lenders to set up an escrow account where, as with forward mortgages, property taxes, and insurance are paid out of that account and then added to the mortgage balance?
The Administration has made several announcements regarding existing housing programs, yet there is much more that must be done to stabilize the housing market and reinvigorate private sector participation.
I look forward to working with my colleagues in both the House and Senate to enact a responsible budget compromise.
The Department of Housing and Urban Development (HUD) faces many challenges in balancing the goal of strengthening responsible homeownership while minimizing the financial risk to FHA and the taxpayer.
Eventually, FHA should play a more limited role, in my judgment, in the mortgage market and help encourage the private sector to reassert its primacy.
A financially sound FHA is an essential component in the recovery of the housing market.
I remain concerned that we must reform our present housing finance programs, and in doing so, we must remain mindful of the need to limit the exposure of taxpayers to additional financial losses.
In closing, Mr. Speaker, H.R. 570, as amended, is a solid piece of legislation that the veterans service organizations support, that the committee supports, and I would urge my colleagues to support this bill. With that, Mr. Speaker, I…
At this time I'd like to yield 4 minutes to the gentlewoman from Nevada (Ms. Titus).
I, too, have no further Members who wish to speak, but I do want to, in closing, emphasize that veterans are an asset to any organization, whether it is in the private or public sector. They make the organization better, and they improve…
At this time I yield such time as he may consume to the gentleman from California (Mr. Takano).
I mean, most countries do have controls on the cost of medications.
But what those surveys show is that about 40 percent of the beneficiaries think that there are too many--
With respect to the vital research and development on new drugs that the pharmaceutical industry does, isn't the American consumer really subsidizing that for the rest of the world?
On the one hand, you look at the VA system, where government has used its purchasing power for years to negotiate prices.
I was proud to vote for that legislation, and I think that it is possibly--no, I am going to go out on a limb here and say it is the only entitlement program in history where the actual experience has produced much lower costs both for the…