Tom Price: “There's a general sense, Mr. Speaker, that it's this bill or nothing, and that certainly isn't true. In fact, much has…”

“There's a general sense, Mr. Speaker, that it's this bill or nothing, and that certainly isn't true. In fact, much has been done. As has been talked about, the FHA Secure program has created greater flexibility, helping hundreds of thousands stay in their homes. The Hope Now program has already helped 1.4 million individuals stay in their home, getting borrowers and lenders together. Loan limits have been increased, FHA, Fannie Mae, Freddie Mac. The Federal Reserve has lowered interest rates. So the notion that the Federal Government has been unresponsive or slow to move is disingenuous and is repeated as fact solely as an excuse for the Democrats to continue outbidding each other on how much taxpayer funding they can spend or bail out imprudent borrowers who either bought too much house or lenders who were gladly willing to give them the money. So much has been done to date. We have also heard the chairman and others say that it's unlikely that this will cost $300 billion, that it will only be $2.4 or $2.7 billion. Well, then why doesn't the bill say that? It doesn't, Mr. Speaker, because the taxpayer will be on the hook for risky loans and the number may significantly rise, and that's because this bailout plan irresponsibly disregards borrowers' payment history and credit scores.”