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WASHINGTON, DC-There are bipartisan proposals in both the House of Representatives and the Senate to tap the GSEs to help pay for a proposal to extend the payroll tax cut into 2012. Right now, the payroll tax rate is set to increase to 6.2% from its currently reduced 4.2%, in 2012. President Barack Obama has been campaigning hard on this issue, and while the two parties are divided as to how to pay for it, neither wants to be painted as responsible for raising taxes on middle and lower class Americans. The answer, according to the views of some in Congress, has become Fannie Mae and Freddie Mac. A Senate proposal calls for Fannie Mae’s and Freddie Mac’s fees to lenders to rise by one-eighth of 1% over the next two years, according to the Wall Street Journal.

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