Statement from Chief Financial Officer Jeff Atwater Regarding the Federal Housing Finance Authority’s Proposed Housing Tax on Floridians
Contact: Anna Alexopoulos
TALLAHASSEE—Florida Chief Financial Officer Jeff Atwater released the following statement regarding his public comments to the Federal Housing Finance Authority regarding the proposed tax on Floridians. The FHFA proposal would increase Fannie Mae and Freddie Mac’s Guarantee Fee (“g-fee”) which could raise the total lifetime cost of mortgages by potentially thousands of dollars for aspiring homebuyers.
“This proposed fee is nothing more than a back-door housing tax that unfairly penalizes future homeowners and strains an already fragile housing market.
“Taxpayers have already spent nearly $190 billion bailing out Fannie Mae and Freddie Mac, of which only a fraction has been paid back. It is unconscionable to think that more of taxpayers’ hard-earned dollars will be added to their coffers through higher fees.
“This housing tax is short-sighted and financially burdensome and it should be withdrawn.”
Chief Financial Officer Jeff Atwater, a statewide elected official and officer of the Florida Cabinet, oversees the Department of Financial Services. CFO Atwater’s priorities include fighting financial fraud, abuse and waste in government, reducing government spending and regulatory burdens that chase away capital, and ensuring transparency and accountability in spending.