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Congress Is Debating the Future of Fannie Mae and Freddie Mac Today. What Does That Mean for Taxpayers?

The Foundry

May 15, 2014, by Rob Bluey

The Senate Banking Committee meets today at 10 a.m. to consider a housing finance bill that eliminates Fannie Mae and Freddie Mac but leaves taxpayers on the hook in the event of another financial crisis.

Sens. Tim Johnson, D-S.D., and Mike Crapo, R-Idaho, delayed consideration of the Housing Finance Reform and Taxpayer Protection Act (S. 1217) last month in hopes of securing more support for the measure. The committee has enough votes to approve the bill, but several conservatives and as many as six Democrats remain opposed or undecided.

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