• Preparing America’s Youth to Graduate Ready for College and Careers, by Transforming our High Schools. In his 2013 State of the Union address, the President laid out a new vision for America’s high schools, and he has proposed dedicating new resources at the Department of Education to scale up models that personalize learning and focus on college and career exploration for students, so that students graduate better equipped for the demands of our high-tech economy.
Securing a Safe and Sound Housing Finance System
• Ending Fannie and Freddie as We Know Them. The President has made clear that it is time to turn the page on an era of reckless lending and taxpayer bailouts, and build a new housing finance system that will provide secure homeownership for responsible middle class families and those striving to join them. The President is encouraged by the leadership of Senate Banking Committee Chairman Johnson and Ranking Member Crapo in seeking to forge bipartisan legislation. The President is also appreciative of the bipartisan efforts of other members of the Senate, such as Senator Warner and Senator Corker. As the President outlined in his housing address in August 2013, he stands ready to work with members of Congress in both parties to enact legislation based on four core principles for reform that will (i) put private capital at the center of the housing finance system, (ii) end Fannie Mae and Freddie Mac’s failed business model so taxpayers are never again on the hook for bad loans and bailouts, (iii) ensure widespread access to safe and responsible mortgages like the 30-year fixed rate mortgage, and (iv) support affordability for creditworthy first-time buyers and access to affordable rental housing for middle class families and those aspiring to join their ranks.
Vice President Joe Biden waits to conduct a mock swearing-in ceremony with Sen. Brian Schatz, D-Hawaii, in the Capitol's Old Senate Chamber, December 2, 2014. Schatz was sworn in to serve the remainder of his term since he was appointed to the seat after Sen. Daniel Inouye, D-Hawaii, passed away.