It is much less than half. It is closer to 20 percent.

Let me just say for the State ownership of homes. In fact, it is a big part of the American dream.

If you ask me, the monetary policy that we have been pursuing, that has driven up the price of virtually every asset class I can think of, from commodities to energy, equities, crypto assets, real estate, that is a big part of this.

Unfortunately, the Biden administration has a different view. It lifted existing restrictions on the ability of Fannie and Freddie to buy loans from single-family investors.

Let me just say for the record, private ownership is vastly preferable to the State. That's the American dream after all.

It's rife with problems. First, you can qualify even if you or your parents previously owned a home.

We need to get the supply of homes increased. We need more private sector investment.

Today, what I think we need to focus on is the $3.5 trillion elephant-in-the-room: the Democrats' reckless tax-and-spend spree, which includes $300-plus billion for housing.

Public housing is a veiled model of delivering assistance. Let's face it. It is costly. It traps families, often in multigenerational cycles of poverty.

One of my concerns is the lack of means testing, or at least the lack of sufficient means testing and an almost complete lack of work requirements in many of the housing provisions in the Democrat tax-and-spend bills.

Senator Schumer, in particular, appears to have effectively added $40 billion for this 'Schumark' to public housing.

The Administration has also chosen to ignore a law requiring sanctions on Russia's Nord Stream 2 pipeline.

I am going to submit a written question, and for the sake of time I would appreciate a written answer as to why it is that you believe that the mandatory nature of this sanctions statute is somehow optional.

Under President Biden, the Treasury Department has advanced a number of troubling international policies, some of which are clearly intended to circumvent the will of Congress.

Under President Biden, Treasury has advanced a number of troubling international policies, some of which are clearly intended to circumvent the will of Congress.

The Administration has repeatedly failed to comply with mandatory sanctions laws.

Gazprom created Nord Stream 2 to evade sanctions. That was the entire purpose.

Congress passed the Countering America's Adversaries Through Sanctions Act, or CAATSA, to punish, among other things, this exact type of conduct: sanctions evasion.

I cannot help but note the irony of your discussing how and why it is so important that we preserve the ability to impellent a sanctions regime in the future when you and the Administration choose not to implement sanctions that statute…

I remain concerned that the Financial Stability Oversight Council (FSOC) is seeking to pressure financial regulators to enact backdoor environmental policy, not based on actual risks but as part of a political effort.

Once sanctions are lifted, Iran will never limit its malign behavior.

So since early July, several other Senators and I have been very concerned that the Administration is again violating the statute by not sanctioning the project manager of the Nord Stream 2 pipeline.

The Administration has offered sanctions relief to our adversaries in the unrealistic hope that they will make concessions inimical to their own interests and nature.

You never responded to my letter, but you did find time to speak with the Financial Times about your thesis.

Ms. McCargo has endorsed this idea.