LATTA OPPOSES DEMOCRAT HOUSING MARKET CORRECTION BILLS

Thursday May 8,2008

Washington, DC -- Congressman Bob Latta (R-Bowling Green) made the following statement after the House considered H.R. 5818, a bill that attempts to stabilize the housing market, and H.R. 3221, a bill to prevent home foreclosures. 

“The two housing market bills considered by the House today punish American taxpayers who have paid their mortgages on time with a $3 billion tax increase brought on by predatory lending.  Part of this massive tax increase will provide cash payments to housing groups who foster this type of behavior, and Congress has the responsibility to put an immediate end to this waste of taxpayer money.”

“Meaningful housing market reform must start with stricter enforcement of laws to prevent irresponsible lending and better financial education to consumers.  It should also provide a boost to the housing market with market-based initiatives that have been introduced by my Republican colleagues.”  

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Congressman Robert Latta was elected in a special election in 2007 to serve the Ohio 5th District.  He is a member of the House Committee on Agriculture and the Committee on Transportation and Infrastructure.  Congressman Latta previously served as a member of the Ohio General Assembly and Wood County Commissioner.