Last Thursday, the U.S. House of Representatives voted 363-64 to pass H.R. 22, a 6-year, nearly $340 billion highway and transit bill. The legislation includes an NAR supported amendment (Reps. Neugebauer (R-TX) & Huizenga (R-MI)), which removes from H.R. 22 an extension of higher Fannie Mae and Freddie Mac guarantee fees (G-fees).
The issue became a threat in July when Senate Majority Leader MitchMcConnell included G-fees as a funding measure for the U.S. Senate’s transportation bill.
With 15 days left before the government’s authority to spend money from the Highway Trust Fund expires, the House bill must still be reconciled with a similar Senate bill before it can be signed into law.
Source: National Association of Realtors® (NAR)