WASHINGTON–With the Republican Party planning to host its national convention this week, a draft of the GOP’s platform being circulated reportedly calls for getting rid of Fannie Mae and Freddie Mac and scaling back the government’s role in the housing market, according to The Wall Street Journal, The New York Times and others reports.
The draft plan contains financial regulation planks that are similar to sweeping proposals that have been put forth by Rep. Jen Hensarling (R-TX), chairman of the House Financial Services Committee. Reform of the so-called government-sponsored enterprises (GSE) has long been a core issue for each of the political parties, but for different reasons.
A final draft of the GOP proposals related to Fannie and Freddie is expected to be released this week.