WASHINGTON (December 1, 2015) – The conference agreement for a multi-year surface transportation authorization was released in Congress this week, with both the U.S. House and Senate set to vote on the measure in the days ahead.
The bill funds several highway and transit-related projects, with monies coming from a variety of sources.
National Association of Realtors® President Tom Salomone, broker-owner of Real Estate II Inc. in Coral Springs, Florida, praised sections of the legislation that are important to strengthening neighborhoods and promoting safety, and in particular, applauded the decision not to use guarantee fees, or g-fees, from government-sponsored enterprises Fannie Mae and Freddie Mac as a funding mechanism.
Following is a statement from Mr. Salomone:
“The multiyear transportation bill moving through Congress is a win across the board, making critical investments in America’s infrastructure.
“NAR is pleased at the emphasis placed on safety and alternative transportation options to strengthen neighborhoods, improve property values and make non-motorized transportation, like sidewalks and bike lanes, a priority.
“Moreover, this legislation recognizes the value of homeownership and the need to protect future homeowners from unnecessary costs. NAR applauds the conference committee for standing with the homeowners of today and tomorrow.
“We hope to see this conference report win swift approval, so communities around the country can reap the benefits as soon as possible.”
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.