House Subcommittee Approves Bill To Abolish Housing Trust Fund as Part of Package of GSE Measures

摘要

Legislation (H.R. 2441) to abolish the national affordable housing trust fund and capital magnet fund has been approved by the House Financial Services Committee's capital markets and government-sponsored enterprises (GSE) subcommittee. The subcommittee approved the measure, 18-14, on July 12 as part of a package of bills to wind down the operations of Fannie Mae and Freddie Mac. Under the Housing and Economic Recovery Act of 2008 (HERA), which created the funds, they were to be financed primarily by contributions from the two GSEs. However, with Fannie Mae and Freddie Mac operating under government conservatorship, no such contributions have been made.