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U.S. Rep. Kind Statement on Housing Bill

July 23, 2008
Press Release

Washington, DC – U.S. Rep. Ron Kind (D-WI) today voted with a majority in the House to send the American Housing Rescue and Foreclosure Prevention Act, H.R. 3221 to the President. Rep. Kind made the following statement:

“This housing package is tremendously important for the future of our economy. It would stabilize the housing market through a combination of tax incentives and strengthened Federal Housing Administration (FHA) assistance to homeowners and also would vastly improve oversight of Fannie Mae and Freddie Mac.

“Frankly, I have not been the most enthusiastic supporter of some proposals I have heard about that would bailout either irresponsible home buyers or irresponsible big businesses. However, H.R. 3221 is not intended to bail people out. The bill was written to ensure that the housing crisis doesn't take down our already struggling economy and, secondly, to prevent this type of crisis from happening again.

“The problems in the housing market are hitting us at a difficult time. The rising cost of gasoline and healthcare pose a great challenge for Wisconsin families. That’s why the bill we sent the president today should be the first major step in putting our economy back on track, followed by a comprehensive energy plan and healthcare reform.”