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Congressman Raja Krishnamoorthi

Representing the 8th District of Illinois

Raja Speaks Out Against Trump's Plan To Make Mortgages More Expensive For Working Families

January 24, 2017
Press Release
“It will not create jobs. And it will not make America great again. But it will make life harder for working families”

WASHINGTON, D.C. – Congressman Raja Krishnamoorthi today opposed President Trump's plan to make mortgages more expensive for working families in a speech on the floor of the U.S. House of Representatives. The video and text of Krishnamoorthi’s remarks is below.

 

Thank you, Mister Speaker.
 
For millions of Americans, homeownership stands as a source of personal and economic security and a defining part of middle-class life.
 
Earlier this month, under President Obama, the Federal Housing Administration announced a plan to make mortgages more affordable for nearly a million working and middle-class families buying their first homes.

In his first hours in office, President Trump reversed President Obama’s plan with an executive action costing these Americans an average of $500 per year. Experts project that forty thousand families who would have bought homes this year no longer will be able to do so.
 
The Trump administration’s order to make mortgages more expensive will not strengthen our economy. It will not create jobs. And it will not make America great again.
 
But it will make life harder for working families.