Monday on Lubbock's First News, Congressman Randy Neugebauer talked about House Bills 1786, 2847, and the issue of Freddie Mac and Fannie Mae.

Neugebauer commented first on the  National Wind Storm Impact Reduction Program (NWIRP). The bill was passed several years ago and is now up for re authorization. It supports research on wind storm damage damage to make buildings and other structures more stable.

Neugebauer also commented on House Bill 2847, passed in 2010. The bill required foreign financial institutions to report transactions completed with someone from the U.S. Some are attempting to repeal the bill because it is thought to violate privacy rights of U.S. citizens working internationally. Rand Paul has introduced a bill in the Senate to repeal 2847.

In response to criticism of the Freddie Mac and Fannie Mae situation, Neugebauer explained that he is currently the primary author of a PATH act, that would "begin to phase out Freddie and Fannie and bring the private sector back into the mortgage market." He believes this will alleviate taxes being paid by citizens as a result of the bail out.

Llisten to the full interview:

Or listen on your mobile device: KFYO LFN Randy Neugebauer March 03 2014 // KFYO.com