Raja Krishnamoorthi said "Mr. Speaker, for millions of Americans, homeownership stands as a source of personal and economic security and is a defining part of the middle class life. Earlier this month, under President Obama, the Federal Housing Administration announced a plan to make mortgages more affordable for nearly 1 million working and middle class families who are buying their first homes. In his first hours in office, President Trump reversed President Obama's plan with an executive action that will cost Americans an average of $500 more per year to get a mortgage. Experts project that 40,000 families who would have bought homes will no longer be able to do so. The Trump administration's order to make mortgages more expensive will not strengthen our economy; it will not create jobs; it will not make America great again--but it will make life harder for working families. ___________________

On the recordJanuary 24, 2017

Mr. Speaker, for millions of Americans, homeownership stands as a source of personal and economic security and is a defining part of the middle class life. Earlier this month, under President Obama, the Federal Housing Administration announced a plan to make mortgages more affordable for nearly 1 million working and middle class families who are buying their first homes. In his first hours in office, President Trump reversed President Obama's plan with an executive action that will cost Americans an average of $500 more per year to get a mortgage. Experts project that 40,000 families who would have bought homes will no longer be able to do so. The Trump administration's order to make mortgages more expensive will not strengthen our economy; it will not create jobs; it will not make America great again--but it will make life harder for working families. ____________________

Said by

Raja Krishnamoorthi

Democratic · Illinois

Source

govinfo.gov

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