Lackluster Vote for Johnson-Crapo
Senate Banking Committee Approves Bill by Narrow Margin
Earlier today, the Senate Banking Committee voted to approve the Johnson-Crapo bill, legislation that would eliminate Fannie Mae and Freddie Mac. This harmful bill has taken a small step toward passage.
Disbanding Fannie and Freddie, which play a vital role for both taxpayers and homeowners, threatens to knock our housing market off track and stamp out trust in the financial sector. Passage of the Johnson-Crapo bill could spike mortgage rates and put taxpayers at risk.
Today's very slim margin of approval on the Senate Banking Committee is a sign, however, that support for Johnson-Crapo is lackluster at best. The bill is quickly losing momentum, but we need your ongoing involvement to make sure it doesn't come closer to becoming law.
Please use the "share" links at the top of this message to share this with your friends and colleagues - ask them to join you in opposing any action that would eliminate Fannie Mae and Freddie Mac.
United for American Homeownership, PO Box 27026, Washington, DC 20038
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