Congress is set to begin its Independence Day recess tomorrow, providing our members an opportunity to continue to push for Senate action on housing finance reform. The effective legislative calendar is shortening, so urging immediate Senate action is imperative. I am asking you to call or, most importantly, visit with your senators over the next week to ask him or her to commit to supporting housing finance reform legislation and urge Senate leaders to schedule the bill for floor action. We need to build a buzz around the legislation and create a sense of urgency for action.
The legislation is S. 1217, the Housing Finance Reform and Taxpayer Protection Act of 2014, and was approved by the Senate Banking Committee with bipartisan support in May. S. 1217 took months to negotiate and represents the consensus middle ground for housing finance reform. While there is room to modify the legislation, changes too far to the left or the right will scuttle support for the bill. Further, I believe 2014 is our last chance to tackle housing finance reform for several years. The upcoming elections will bring new leadership to the Banking Committee and perhaps a new majority to the Senate. The housing market needs certainty in the housing finance system and failure to pass reform this year will prohibit a more robust housing recovery.
Talking points are attached. As you contact your senators, please be sure to ask if they will support S. 1217. We have been asked by the Senate leadership to provide hard numbers for support for the bill.
I appreciate the help on this critical push for action on housing finance reform legislation. Please call or write with any feedback you receive from your conversations. If there is anything I can provide or questions I can answer, please don't hesitate to ask.
Best regards,
JIM TOBIN
Senior Vice President
Government Affairs
National Association of Home Builders
1201 15th Street, NW
Washington, DC 20005
D 202-266-8258
F 202-266-8572 T 800 368 5242 x8258
jtobin@nahb.org
www.nahb.org
