Andy Harris: “this afternoon the Subcommittee on Housing and Community Opportunity of the Committee on Financial Services will begin…”

“this afternoon the Subcommittee on Housing and Community Opportunity of the Committee on Financial Services will begin hearings on President Bush's visionary plan to extend the dream of homeownership to tens of thousands of low-income families and individuals across our Nation. As I have consulted with housing advocates throughout my district, I have repeatedly heard that a great number of low-income Americans could meet a monthly mortgage payment were it not for that initial obstacle of the closing costs and down payment associated with the traditional residential loan. H.R. 1276, the American Dream Down Payment Act, removes that barrier for an estimated 40,000 low-income families and individuals every year. Madam Speaker, the extension of affordable quality housing opportunities to every American is a moral imperative for a decent, compassionate society. H.R. 1276 represents a powerful step toward this goal, providing thousands of men, women and children across our Nation with the dignity, stability and economic empowerment of homeownership.”