WASHINGTON, D.C. – U.S. Senator Heidi Heitkamp, a member of the Senate Committee on Banking, Housing, and Urban Affairs, today issued the following statement about continued progress on bipartisan legislation to reform the nation’s housing finance system. The bill builds upon legislation Heitkamp and a bipartisan group of Senators introduced in June 2013. The bill has 10 bipartisan cosponsors on the Senate Banking Committee.
“During a Congress where too often politics gets in the way of good policy, this bipartisan bill to reform the nation’s housing finance system shows what can happen when we work together to stand up for American families,” said Heitkamp. “That’s what legislating is about – working for North Dakotans and Americans to pass legislation that stands up for them and makes our nation stronger. After almost a dozen hearings, this landmark bill accomplishes those goals by ending taxpayer-funded bailouts of the housing market, while still making sure families can afford homes. We have been debating this reform for over a year, and are so close to finalizing it. I greatly appreciate Chairman Johnson and Ranking Member Crapo for their leadership on it and determination to bring this bill across the finish line.”
The legislation includes proposals Heitkamp pushed for to support North Dakota’s rural and Native American communities, and protects access to the secondary mortgage market for small lenders. Many rural communities struggle to access affordable housing and depressed economies on Indian reservations make affordable housing hard to find. Additionally, in North Dakota, the drastic increase in population has made it difficult for many to afford homes. Because of North Dakota’s economic boom, it’s estimated the state will need 30 percent more housing units by 2025.
Press release provided by US Senator Heidi Heitkamp
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