"Frank seeks $10b for affordable housing; Tax-credit plan would boost 31 projects in Mass., legislator says" by Jenifer B. McKim, Globe Staff | December 31, 2008
US Representative Barney Frank said yesterday he wants the government to spend $10 billion to jump-start the stalled development of affordable rental housing nationwide, including 31 projects in Massachusetts that can't move forward because of a lack of funds.
Frank is proposing that the US Treasury buy $5 billion in low-income housing tax credits, a key source of funding for affordable housing, and provide states with another $5 billion they can spend on hundreds of stalled projects.
"We have some projects ready to go, and there is nobody to buy the tax credits," Frank said yesterday. "We are pushing both of these" proposals, he said. Frank intends to include a provision for $10 billion in spending in the economic stimulus bill Congress is expected to take up next month....
Why wasn't that in the ORIGINAL BAILOUT, Barn?
Why couldn't they get TARP funds?
The OUTRAGE keeps getting larger the more you find out about that BLANK CHECK the Congress wrote the Wall Street looters!
Oh, yeah, they got their taxpayer bailout in a week, and yet YOU have to wait another month, SHIT-CHEWING Amurkns!
Housing advocates say there are many projects that can't even sell their credits, as buyers have fled the market. With the kinds of losses banks and investors have suffered in 2008, few have any need to buy tax credits to offset profits. So advocacy groups have been lobbying lawmakers to have the government step in....
And wait until you see WHOM will BENEFIT!!
Among the projects in Massachusetts is the proposed 150-unit Shillman House in Framingham, sponsored by the Boston-based Jewish Community Housing for the Elderly....
Why am I NOT SURPRISED at ALL?
I guess Jews are the ONLY ONES WHO MATTER to our Congress!!
Time to OVERTHROW this government, folks!!!--more--"