HR-6746 : Still Just a Bill

Protecting American Taxpayers and Homeowners Act of 2018

This bill revises provisions related to housing finance, mortgage-backed securities, and government-sponsored enterprises. Among other things, the bill:

  • abolishes the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Federal National Mortgage Association (Fannie Mae), effective five years after the bill's enactment;
  • makes both the Government National Mortgage Association (Ginnie Mae) and the Federal Housing Administration (FHA) independent of the Department of Housing and Urban Development (HUD);
  • transfers certain functions from HUD and the Department of Agriculture to the FHA and otherwise revises the FHA's authority; and
  • establishes a mortgage-backed security market exchange and covered bond program.

Action Timeline

Action DateTypeTextSource
2018-09-07IntroReferralReferred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.House floor actions
2018-09-07IntroReferralReferred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.House floor actions
2018-09-07IntroReferralIntroduced in HouseLibrary of Congress

Sponsor :

Rep. Hensarling, Jeb [R-TX-5]
See Cosponsors

Policy Area :

Housing and Community Development
See Subjects
  • Administrative law and regulatory procedures
  • Advisory bodies
  • Banking and financial institutions regulation
  • Business records
  • Computers and information technology
  • Congressional oversight
  • Consumer Financial Protection Bureau
  • Credit and credit markets
  • Executive agency funding and structure
  • Federal Reserve System
  • Federal officials
  • Federally chartered organizations
  • Fraud offenses and financial crimes
  • Government corporations and government-sponsored enterprises
  • Government employee pay, benefits, personnel management
  • Government information and archives
  • Government lending and loan guarantees
  • Government studies and investigations
  • Housing and community development funding
  • Housing finance and home ownership
  • Housing industry and standards
  • Interest, dividends, interest rates
  • Judicial review and appeals
  • Licensing and registrations
  • Life, casualty, property insurance
  • Performance measurement
  • Public contracts and procurement
  • Rural conditions and development
  • Securities
  • State and local taxation
  • Tax administration and collection, taxpayers
  • Tax-exempt organizations
  • Transfer and inheritance taxes
  • User charges and fees

Related Bills

See Related Bills