House OKs Bill Adding Fannie, Freddie To Federal Budget

Law360, New York (February 8, 2012, 3:11 PM EST) -- The U.S. House of Representatives passed a bill late Tuesday to bring government-sponsored mortgage giants Fannie Mae and Freddie Mac onto the federal budget like any other government agency, part of a series of reforms aiming to bring more accountability to the taxpayer-backed enterprises.

The bill was supported by the Republican leadership and passed by a 245-180 vote, largely down party lines. It would require the White House to account for the long-term budget implications of the government's financial support of Fannie and Freddie, which has...
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