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CBO: PATH Act Reduces Deficit by $5.7 Billion

| Posted in Press Releases

The non-partisan, independent Congressional Budget Office (CBO) reports the Protecting American Taxpayers and Homeowners Act (PATH Act) that the House Financial Services Committee passed in July will slash the federal budget deficit by $5.7 billion over the next 10 years.

Committee Holds Hearing on FHA’s First-Ever Taxpayer Bailout on Tuesday

| Posted in Press Releases

Washington’s latest taxpayer-funded bailout –$1.7 billion for the Federal Housing Administration (FHA) – will be the focus of a hearing on Tuesday at 10 a.m. by the House Financial Services Committee. FHA Commissioner Carol Galante will testify before the committee about the FHA’s first-ever bailout, which was announced on September 27 and carried out on September 30.

Chairman Hensarling Comments on Expected Nomination of Dr. Janet Yellen

| Posted in Press Releases

Financial Services Committee Chairman Jeb Hensarling (R-TX) tonight issued the following statement on President Obama’s expected nomination of Dr. Janet Yellen to be the next chairman of the Federal Reserve: “I congratulate Dr. Yellen on her nomination. It is my hope that, if confirmed, she will lead the Federal Reserve to adopt a more transparent and rules-based monetary policy that…