mr. chairman , i yield myself such time as i may consume . 
this has been an excellent debate , and we appreciate the efforts on both sides of the aisle for this legislation . 
mr. chairman , this is historic legislation , the first time that any congress has reached a stage where we are debating a major reform effort for the gses . 
it is a long time coming . 
the gentleman from louisiana ( mr. baker ) xz4000120 has toiled in the vineyards for all of these years , and we have finally reached a situation where we can finally pass legislation that will improve the regulatory structure of the gses , ultimately make them stronger and more accountable , provide affordable housing funds through the gses throughout the country and particularly related to the hurricane-affected areas . 
this is well balanced . 
it makes a lot of sense , something that we have been working on for a long time . 
and i know a lot of the debate has been about one particular part of the manager 's amendment that i will be offering next , but at the end of the day , when this bill comes up for final passage , most members will support it because it makes good sense from a regulatory standpoint , it makes good sense from an affordable housing standpoint . 
house of representatives , committee on financial services , washington , dc , september 14 , 2005 . 
dear mr . 
chairman : on july 14 , 2005 , the committee on financial services filed its report on h.r. 1461 , `` federal housing finance reform act of 2005. '' the bill was then sequentially referred to the committee on the judiciary until september 16 , 2005 . 
i am writing to confirm our mutual understanding with respect to the further consideration of h.r. 1461 . 
i am pleased that our staffs have been working together during this period and have reached an agreement on an amendment regarding independent litigation authority ( copy attached ) . 
i agree that i will request the rules committee make this amendment in order as part of a manager 's amendment during consideration of the bill , and to consult with your committee in providing an explanation of its contents . 
it is my understanding that with this commitment , no further action by the judiciary committee on this bill will be required and the time period for the sequential referral will thereby lapse . 
it is also understood that this procedure is without prejudice to the jurisdictional interests of the judiciary committee on this or similar legislation . 
i will also support thank you for your cooperation and your attention to this important matter . 
yours truly , michael g. oxley , house of representatives , committee on the judiciary , washington , dc , september 14 , 2005 . 
dear chairman oxley : this letter responds to your recent letter concerning h.r. 1461 , the `` federal housing finance reform act of 2005 , '' which was ordered reported to the house by the committee on financial services on july 14 , 2005 and sequentially referred to the committee on the judiciary . 
as you know the committee on the judiciary has jurisdiction over matters concerning independent litigation , bankruptcy laws , civil judicial matters , and other subject matter contained in the bill . 
i am pleased to acknowledge the agreement between our committees to address changes that you will include in a manager 's amendment to the bill concerning independent litigating authority . 
in order to expedite this legislation for floor consideration , the judiciary committee agrees to forgo action on this bill based on the agreement reached by our committees and with the understanding that no other provisions affecting the jurisdiction of the judiciary committee are included in the amendment to h.r. 1461 . 
the judiciary committee takes this action with thank you for your attention to this matter and for the cooperation of your staff . 
sincerely , f . 
james sensenbrenner , jr. , house of representatives , committee on ways and means , washington , dc , october 25 , 2005 . 
dear chairman oxley : i am writing with respect to h.r. 1461 , the `` federal housing finance reform act of 2005 , '' which was reported to the house by the committee on financial services on thursday , july 14 , 2005 . 
as you know , the committee on ways and means has jurisdiction over matters concerning taxes and the internal revenue code of 1986 . 
a provision in section 144 of h.r. 1461 would provide an exemption for a limited-life enterprise from federal taxes , and thus falls within the jurisdiction of the committee on ways and means . 
however , in order to expedite this legislation for floor consideration , the committee will forgo action on this bill . 
this is being done with the understanding that it does not in any way prejudice the committee with respect to the appointment of conferees or its jurisdictional prerogatives on this or similar legislation . 
i would appreciate your response to this letter , confirming this understanding with respect to h.r. 1461 , and would ask that a copy of our exchange of letters on this matter be included in the congressional record during floor consideration . 
best regards , bill thomas , house of representatives , committee on financial services , washington , dc , october 26 , 2005 . 
dear chairman thomas : thank you for your letter concerning h.r. 1461 , the `` federal housing finance reform act of 2005 '' . 
this bill was reported by the committee on financial services on july 14 , 2005 . 
it is my expectation that this bill will be scheduled for floor consideration in the near future . 
i acknowledge your committee 's interest in a provision contained in section 144 of the bill which would provide an exemption for a limited-life enterprise from federal taxes . 
such matters concerning federal taxation fall under the exclusive jurisdiction of the committee on ways and means . 
however , i appreciate your willingness to forego action on h.r. 1461 in order to allow the bill to come to the floor expeditiously . 
i agree that your decision to forego further action on this bill will not prejudice the committee on ways and means with respect to its jurisdictional prerogatives on this or similar legislation . 
i would support your request for conferees on those provisions within your jurisdiction should this bill be the subject of a house-senate conference . 
i will include this exchange of correspondence in the congressional record when this bill is considered by the house . 
thank you again for your assistance . 
yours truly , michael g. oxley , 