PlainBillCongress, translated.Legislation. Context. Public interest.Referred to House Financial Services
Congressional Research Service
Version 00 · Introduced in House · Feb 23, 2010
Accurate Accounting of Fannie Mae and Freddie Mac Act - Requires the receipts and disbursements of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to be counted as new budget authority, outlays, receipts, or deficit or surplus for purposes of: (1) the federal budget submitted by the President; (2) the congressional budget; or (3) the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act).
Requires the costs of purchases of mortgages, and mortgage-backed securities issued, by Fannie Mae and Freddie Mac to be calculated by adjusting a specified discount rate for market risks under the Credit Reform Act of 1990.
Subjects to the statutory public debt limit the face amount of obligations issued by Fannie Mae and Freddie Mac and outstanding at one time.
People & committees
Rep. Garrett, Scott [R-NJ-5] · R–NJ
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Referred to House Financial Services
Referred to House Ways and Means
Referred to the Committee on the Budget, and in addition to the Committees on Ways and Means, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to House Budget
Introduced in House
Introduced in House
Primary sources
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Source last updated: Sep 8, 2026. Consult Congress.gov for the current record.
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