Boehner, House Republican Leaders Unveil Principles for Bipartisan Housing Legislation

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WASHINGTON, D.C. – Congressman John Boehner (R-West Chester) today issued the following statement, joining other House Republican leaders in unveiling principles for bipartisan housing legislation:

“We all want to address the concerns of middle-class families and stop threats to our economic growth. With too many American families facing rising costs of living, declining home values, and the rising risk of foreclosure, Congress and the Administration have an obligation to work in a bipartisan manner to address these challenges in a balanced and responsible way. We must stop the Democrats’ massive tax hike, which is the last thing stressed-out families need when they are struggling to make ends meet. We must also work to help the innocent victims of the housing crisis, without providing a taxpayer-funded bailout to speculators, scam artists, or recklessly irresponsible borrowers.

“These clear, responsible, and balanced principles should guide this debate, and we hope Democrats will agree to work with us to craft legislation that can become law with bipartisan support. Like the economic stimulus package that passed with overwhelming bipartisan support earlier this year, a truly bipartisan housing bill would be the sort of measure we can all be proud of – and the sort of response homeowners and taxpayers deserve.”

NOTE: Boehner, the House Republican Leader, joined other Members of the Republican leadership team in unveiling the following principles for bipartisan housing legislation:

Support Homeownership. Homeownership is central to the American dream and a key part of our free economy. We need to keep the dream of homeownership within reach of middle-class families.

Jump Start the Housing Market. The best way out of the housing crisis to get Americans purchasing homes again. The housing market needs a jump-start, not a bail-out.

Lower Taxes on Middle-Class Families. Lower taxes on middle-class families will help increase homeownership. We cannot tax our way to a housing recovery, and higher taxes on American families will only add to the middle-class squeeze.

Help Needy Homeowners Who are Truly Victims. We must address the threat to our economy and help needy homeowners who are truly victims without a taxpayer bailout that rewards reckless behavior.

Reform and Transparency. We must bring reform and transparency to the housing market and improve our overall economy, as well as ensure that this situation doesn’t become a feeding frenzy of trial lawyers eager to profit from people’s misfortune.

Fairness for Responsible Homeowners. As a matter of fairness, we should stand up for Americans who saved and invested responsibly, not reward reckless behavior at the expense of those who did the right thing.

Protection for Taxpayers. We should protect taxpayers from having to bail out speculators and scam artists.

Stake in the Outcome. Anyone receiving government assistance should have to make a financial sacrifice and have a stake in the outcome.