On the recordOctober 20, 2011
Mr. President, I ask the Chair to advise me when 30 seconds has passed by. The Menendez-Isakson amendment would temporarily restore conforming loan limits to the level that existed under the law as of September 30 but expired. The drop in loan limits has reduced consumer credit in 669 counties across 42 States. The amendment as we have drafted it will save taxpayers $11 million over 10 years, including $2 million in fiscal year 2012, according to the CBO, by creating a premium that borrowers have to pay as a result of getting the loan, therefore putting the risk on the borrower, not the taxpayer. If we want to get our economy moving, the housing market has to be part of it. I yield to my distinguished colleague from Georgia, Senator Isakson.
