Senator Pat Toomey introduced an amendment to reduce the risk of a taxpayer bail out of the Federal Housing Administration.

The amendment is similar to the FHA Emergency Fiscal Solvency Act of 2012.

“While I hope to see further reforms, this measure is an important first step in modernizing the FHA and protecting taxpayers from another government mandated bailout,” Sen. Toomey said. “A companion piece of legislation received wide bipartisan support in the House of Representatives, and I hope we can pass this legislation with the same enthusiastic bipartisan support in the Senate.”

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