Today, GOP lawmakers plan to introduce eight bills that each take a small step toward pushing the mortgage giants Freddie Mac and Fannie Mae out of business. The bite-sized approach to ease the government out of the mortgage system seems to acknowledge the difficulty in moving one big bill through Congress a bill that could also rattle the housing market during its tender recovery. AP Correspondent Bryant Thomas says Republicans are still smarting from last year’s effort to keep the mortgage giants from collapsing.
Republicans want to show voters of their desire to shrink government and protect taxpayers. They’re also under pressure to avenge last year’s financial overhaul bill, when the president and Congressional Democrats virtually ignored Republicans when they were crafting the legislation.