H.R.5599: Fulfilling the Promise of the Housing Trust Fund Act

Overview

The Fulfilling the Promise of the Housing Trust Fund Act (H.R. 5599) would increase funding for the national Housing Trust Fund, which provides state resources to build and preserve rental homes affordable for low-income Americas. The bill would redirect a 0.1% “guarantee fee” currently levied by Fannie Mae and Freddie Mac to the HTF. In 2011, Fannie and Freddie were required to increase their guarantee fees for ten years to create extra profits that would go to reduce the federal deficit. This bill preserves the guarantee fee increase but directs the proceeds to the HTF, increasing funding to the program by billions every year.

Our Stance

Watching

Priority

Medium

Bill Number

H.R.5599

Date Introduced

January 14, 2020

Committee

House Financial Services Committee

Bill Status

Introduced or Prefiled

Sponsor

Rep. Denny Heck