Political Quotes

“Madam Chairman, I rise in opposition to H.R. 836, the Emergency Mortgage Relief Program Termination Act. This legislation, like the other war on affordable housing bills being brought to the floor by our colleagues on the other side of the aisle, seems to terminate a much needed Federal program that helps struggling homeowners. To be clear, shutting down a badly needed foreclosure mitigation assistance program is not a solution to Federal deficits and will simply hurt homeowners and the current economic recovery. Rather than turning our backs on homeowners, we should be working together to improve and expand programs to help the millions of Americans and communities affected by the housing crisis all over our Nation. For several years now, many Americans have struggled with foreclosures, underwater mortgages, and abandoned and blighted properties. For local towns and cities, this crisis has also decimated their tax base, leading to a ripple-up effect producing funding shortfalls for basic services like police, firefighters, and teachers. This creates deficits at every level of government. I keep hearing from my Republican colleagues that the debt is crushing Americans and we must act now. Well, what about the crushing debt of negative equity facing almost a quarter of all homeowners in this country? Nearly one-fourth of all Americans owe more on their mortgages than their homes are now worth.…”