Experts: House Bill to Tap G-Fees to Fund Immigrant Visas DOA in Senate But Expect Future Efforts to Milk GSEs
December 6, 2012
Congress needs to quit pickpocketing Fannie Mae and Freddie Mac by diverting guaranty fees from the government-sponsored enterprises to pay for purposes unrelated to housing or risk derailing the fledgling housing market recovery, warn industry groups. The House last week approved H.R. 1629, the STEM Jobs Act of 2012, which would provide visas for qualified workers in the fields of science, technology, engineering and mathematics (STEM). A managers amendment after the bill was sent to the House Rules Committee tacked on a payfor requiring the GSEs to increase their g-fees to cover the cost of implementing the bill. We appreciate...