On Tuesday, March 29, 2011, the House of Representatives passed H.R. 839, the HAMP Termination Act of 2011. This bill ends another failed program from TARP funds that had been allocated during the banking crisis of 2008. Congressman Rob Woodall (R-GA-07) issued the following statement:
"The government should not be in the business of rewarding servicers with taxpayers' hard-earned dollars. Undoubtedly, the recession has been tough on the housing market. However, HAMP is just another example of the kind of ineffective policy coming out of the previous Congress. "
"On my first day in office, I introduced H.R. 189, a bill to repeal all of TARP--including HAMP. My vote for H.R. 839 today continues my efforts to end failed taxpayer funded bailouts."