WASHINGTON — American Action Forum (@AAF) President Douglas Holtz-Eakin will today testify in front of the House Financial Services Committee on the topic of Chairman Jeb Hensarling’s housing finance bill.
Highlights from the testimony are included below.

“The legislation being discussed today represents a long-overdue effort to address damaging weaknesses in the U.S. system of housing finance. I applaud the Committee for moving forward…

The most significant component of the legislation is its commitment to winding down and closing Fannie Mae and Freddie Mac. These government-sponsored enterprises are fundamentally flawed in their design and politically toxic…

I am pleased that the Committee is simultaneously undertaking needed reforms to theFederal Housing Administration.”

The complete testimony submitted for the record can be found online here. [PDF]