Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following statement during a full committee markup.

“Thank you, Chairman Hill.

I never thought today would come but I am so pleased that we are finally here, marking up a bipartisan housing bill at long last. While I was disappointed that the Chairman walked away from efforts to include housing legislation in the NDAA, I commend him for his leadership and I am pleased to join with him in moving our bipartisan bill, the Housing for the 21st Century Act with Congressmen Cleaver and Flood.

This bill is long overdue, and it’s a first step to expand affordable housing, modernize key programs, and help more families achieve the dream of homeownership.

But let me also be clear. Although it is a strong step in the right direction, this bill alone will not solve all of our housing crisis. We must build our way out of this crisis and only the Federal government has the funds and—more importantly—the will to build the millions of units we need to end this crisis.

This bill should be seen as a great starting point, not a finish line and I hope that the spirit of bipartisanship that brought us here today will extend to securing the additional investments our country needs to deliver the bold, comprehensive solutions this moment demands.

In addition, we as a Committee need to rein in the efforts by the Administration to reform Fannie Mae and Freddie Mac. This Committee should play a central role in that discussion, not the unserious and unqualified director of the Federal Housing Finance Agency, Bill Pulte.

While we are finally coming together on housing in today’s markup, I have to say that many of the other bills we will consider are the same Republican deregulatory nonsense. Unfortunately, today’s markup includes several bills that are essentially Christmas gifts for billionaires, Big Crypto, and Big Banks. These bills weaken oversight and make it easier for powerful financial institutions to extract even more money from hardworking Americans through junk fees and other unfair practices.

And these efforts are only being fueled by a President who has dismissed Americans’ concerns about the affordability crisis as a ‘hoax’—he actually said this in Pennsylvania in front of the media—while spending hundreds of millions of dollars on a golden ballroom in the White House.

But this is par for the course. From day one, the Trump Administration has pursued a reckless economic agenda that has raised prices and weakened the economy. From sky high tariffs to a $40 billion bailout of Argentina, to sending in masked Federal agents that detain and deport Americans and others who are lawfully here, this Administration is turning its back on America.

Committee Democrats will never stop fighting to deliver real change for the American people. That means an economy and financial system where families can afford a dignified place to call home, working people can finally get ahead, and consumers are protected, not one rigged for Wall Street and the wealthy few.

I yield back the balance of my time.”

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