Press Releases

Today, the House Financial Services Committee, led by Chairman French Hill (AR-02), is holding a markup of various bills that strengthen our banking system and address housing affordability.

Read Chairman Hill's remarks as prepared for delivery.

"Good morning. As our first session of the 119th Congress comes to a close, we are moving forward with a slate of bills that take significant steps to further advance our Committee’s agenda.

"Following the conclusion of this markup, the Financial Services Committee will have advanced nearly 100 bills to the full House for consideration.

"Today, we are advancing smart, pro-growth banking legislation that strengthens our banking system, expands access to credit, and reduces unnecessary regulatory burdens that drive up costs for families and small businesses.

"We’re also considering our bipartisan package of housing measures that I’m proud to have introduced alongside Ranking Member Waters, Housing and Insurance Subcommittee Chairman Mike Flood, and Ranking Member Emanuel Cleaver.

"The issue is clear: we need more housing units across the spectrum, from single-family homes, multi-family units, to apartment buildings and manufactured and factory-built housing.

"This long brewing housing shortage is not just an economic risk. It threatens the stability and quality of life of millions of Americans who are struggling to find reasonably priced homes.

"While there is a cooling in single family home prices across the nation, we recognize that when housing costs outpace our families’ take-home pay, many families are in vulnerable positions with less stable financial footings, which limits opportunity and stifles economic growth.

"Our housing package will tackle these challenges head-on with a comprehensive package of bipartisan housing policies, representing the Committee’s commitment to ensuring that every hardworking American has access to housing and the capital they need to support their families.

"Our Committee has spent countless hours crafting a bill to create real, tangible solutions that will streamline housing development and affordability by updating outdated programs, removing unnecessary federal requirements, and increasing local control.

"We have provisions to streamline the permitting process and reduce regulatory barriers so we can expedite the construction process on new homes to meet the growing demand.

"Other provisions seek to improve federal housing programs through updated standards, better administration, and support for innovation in manufactured and factory-built housing.

"By focusing on policies that encourage the construction of new homes and streamline the development process, we can provide more opportunities for families to find safe, reasonably priced places to live.

"Our members recognize that addressing our housing challenges requires collaboration and innovation, and this bipartisan package is a step in the right direction.

"I look forward to our discussion on these important bills and hearing from our members on how we can address the housing crisis to ensure that every American has access to housing so we can create a future where families can thrive, communities can grow, and our economy can prosper.

"I’d also like to mention that early next year, we will be taking steps to advance our 'Make Community Banking Great Again' agenda.

"Not only are community banks often primary lenders for first-time homebuyers and low-to middle-income families, but banks are also an integral part of our nation’s housing finance system.

"The reforms in our housing package coupled with reforms to ensure community banks can focus less on compliance and more on lending in their communities will help ease the housing affordability crisis.

"I look forward to the discussion today and I yield back."