Although the G-Fee Call for Action was originally scheduled to end October 22, it has now been extended until November 20, 2015. Urge Congress to oppose any attempt by the House Transportation and Infrastructure Committee to use Fannie Mae and Freddie Mac's credit risk guarantee fees (G-fees) to fund the surface transportation re-authorization legislation.
Although the House of Representatives has passed a temporary extension of the reauthorization, this action only gives the Department of Transportation the ability to spend its current funding to prevent interruptions to surface transportation projects. The G-Fee extension is still in play. Between now and November 20, the House will be working on a long-term transportation bill that could contain extended G-Fees. By increasing Fannie Mae and Freddie Mac's credit risk guarantee fees (g-fees) to fund transportation programs, Congress would disturb the housing recovery. Now is not the time to raise the cost to purchase or refinance a home. NAR strongly believes that taxing homeowners to pay for transportation programs places an unnecessary long-term burden on consumers and this action will disproportionately impact low and moderate income borrowers, as well as first-time homebuyers.
By keeping the Call for Action open, REALTORS® will have an opportunity to take action while the final bill is crafted. If you have any questions, contact NAR's Government Affairs Communications Director, John DiBiase at
Tell Congress to stop taxing homeowners to fund transportation projects by taking action now.