Real Estate Central

WASHINGTON, July 23 /PRNewswire-USNewswire/ — House Republican Whip
Roy Blunt today released the following statement in opposition to the House
Democrats plans to force through their housing bill, blocking attempts by
Republicans to improve the legislation:

“You’d think a bill that reaches this far, this fast, this aggressively
would’ve been put together with a degree of due diligence that looks out
for the short- and long-term interests of the American taxpayer. But you’d
be wrong.

“To be clear, I would have supported legislation to shore up our
housing market and help struggling homeowners, but this is not the bill.
House Democrats have refused to hold the necessary hearings before diving
head-first into a billion dollar legislative package. Had this package been
fully examined in an appropriate matter, it would have become very clear
that the bill levies new taxes on the very same organizations it seeks to
bail out, creating a fund to finance political groups, and gives banks an
incentive to foreclose on properties.

“I believe rewarding, encouraging and reinforcing risky investments
should not be the role of the government - and certainly shouldn’t be
financed by taxpayers. Given the opportunity, House Republicans have
authored constructive legislation - pending in committee - that attempts to
solve the problem at hand by protecting the taxpayers first, and ensuring
we don’t end up in the same predicament in the future.”

NOTE: Appearing on National Review Online today is a column on the
housing bill penned by Congressman Blunt.

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• Acoustical Solutions, Inc., Richmond Virginia, Launches Single Resource for Customers Needing Acoustical Sound Panels www.AcousticalWallPanels.com

[Via Real Estate Newswire]