Washington, DC - Today, Congressman Van Drew issued the following statement after the Biden administration put forth a new rule that will force financially responsible Americans to foot the bill for those with poor credit. 

"First, the Biden administration wants Americans to subsidize student loan forgiveness by increasing taxes on many that never even had student loans in the first place, and now the administration wants responsible spenders, who worked hard to obtain good credit, to subsidize risky potential homebuyers," said Congressman Van Drew. "It is completely unfair and quite literally insane to think that the Biden administration wants to punish success in order to subsidize bad behavior. President Biden should be focusing his efforts on lowering his record-high inflation, not increasing hard-working Americans monthly mortgage payments to subsidize high-risk homebuyers that could potentially lead to another housing crash. This rule is yet another example of this administration bypassing Congress, taking zero input from the American people, and attempting to unilaterally create policy.

"In case President Biden forgot, we are capitalist not socialist."