Bill Summary
This bill aims to prevent any increases in guarantee fees for Fannie Mae and Freddie Mac from being used to offset any provisions that would increase the federal deficit. It prohibits the use of guarantee fees to be counted towards the budget authority, outlays, or revenues in any legislation for the purpose of evaluating budgetary impacts. This legislation would ensure that guarantee fees are not used as a way to artificially balance the budget.
Possible Impacts
1. The legislation would protect consumers from being charged higher guarantee fees by Fannie Mae and Freddie Mac in order to offset other provisions that may increase the deficit. This could benefit people by ensuring that they are not burdened with increased fees.
2. The legislation could lead to a decrease in government revenue, which could potentially affect the funding of public programs and services that benefit people.
3. The legislation could impact individuals who own or plan to purchase homes, as changes in guarantee fees could affect the affordability and accessibility of mortgages.
[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 1463 Introduced in Senate (IS)]
<DOC>
116th CONGRESS
1st Session
S. 1463
To establish a scorekeeping rule to ensure that increases in guarantee
fees of Fannie Mae and Freddie Mac shall not be used to offset
provisions that increase the deficit.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
May 14, 2019
Mr. Perdue (for himself, Mr. Menendez, Mr. Tillis, and Mr. Tester)
introduced the following bill; which was read twice and referred to the
Committee on the Budget
_______________________________________________________________________
A BILL
To establish a scorekeeping rule to ensure that increases in guarantee
fees of Fannie Mae and Freddie Mac shall not be used to offset
provisions that increase the deficit.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. PROHIBITING THE USE OF GUARANTEE FEES AS AN OFFSET.
In the Senate, for purposes of determining budgetary impacts to
evaluate points of order under the Congressional Budget Act of 1974,
any previous budget resolution, and any subsequent budget resolution,
provisions contained in any bill, resolution, amendment, motion, or
conference report that increases, or extends the increase of, any
guarantee fees of the Federal National Mortgage Association and the
Federal Home Loan Mortgage Corporation shall not be scored with respect
to the level of budget authority, outlays, or revenues contained in
such legislation.
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