Speaker Hastert Touts Law Closing the Homeownership Gap for Minorities

releases.usnewswire.com ^

[chance33_98]

Speaker Hastert Touts Law Closing the Homeownership Gap for Minorities

10/1/03 5:46:00 PM

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To: National Desk

Contact: Pete Jeffries, John Feehery or Charles Chamberlayne, 202-225-2800, all of the Office of Speaker J. Dennis Hastert; Web: http://www.speaker.gov

WASHINGTON, Oct. 1 /U.S. Newswire/ -- Today, Speaker J. Dennis Hastert (R-Ill.) and U.S. Department of Housing and Urban Development Secretary Mel Martinez joined House Republicans to tout the passage of the American Dream Downpayment Act (H.R. 1276) that will provide $5,000 each to low-income, first time home buyers. The bill, which was approved by the House by a voice vote, will provide $200 million in grant funds to help 40,000 low-income families with the down payment and expensive closing costs in buying a home.

Following the event, the Speaker released the following statement:

"As Speaker, I'm proud the U.S. House is passing this bill to help working families, like Mrs. Susie Dixon who joins us today. Essential to all families, like Susie's, is trying to achieve the American Dream of homeownership. This long overdue initiative provides assistance through $5,000 grants to low income, first-time homebuyers across the country to help with exceedingly difficult down payment and closing costs.

"While more than two-thirds of all Americans own their home, less than half of all African-American and Hispanic families do not. By passing this bill, the Republican House is working with President Bush to close this homeownership gap.

"Also very important is the fact that this bill will help construct 13,000 new homes. According to the Department of Housing and Urban Development, building these homes will create 33,000 new jobs - what a much-needed shot in the arm to our nation's economic recovery and improvement of our local communities. That's a win-win situation for minority homeowners and American workers.

"By passing the American Dream Down Payment Act, we will help empower every community. We will help lift up our African-American and Hispanic Communities. As House Republicans, we recognize the significance this initiative will have to help families already owning a home, but more importantly, how it will help close the homeownership gap for those still trying to achieve this part of the American Dream."

[TomServo]

As Speaker, I'm proud the U.S. House is passing..

Legalized theft...

[Lizavetta]

And of course, since Americans are familiar with economics and the laws of supply and demand, they will instantly see that subsidizing down payments will increase the costs of home ownership. (/sarcasm)

Just another example of pandering, socialism, and downright ignorance from our elected leaders.

[.38sw]

This really burns me up. My family's tax dollars are going to help other people buy houses, just because they are "minorities". My husband and I have been married for 10 years, and just last year were able to buy our first house (and we are NOT young). It was difficult to do, since we were paying hubby's huge student loans from medical school on top of high taxes. And now, we're helping someone else buy homes. Just makes me feel all warm and fuzzy to be able to help...

When we got a pitch for money from the Republican Congressional Committe, I sent back the solicitation with no check, but included my feelings on a number of issues, this one included, on which I believe the Republicans are selling us out.

[onedoug]

More RINO socialism. I think we're done for.

[sgtbono2002]

It aint easy being black and accepting all these freebies.

Affirmative Action, Being able to enter college with low scores, now house downpayments . I want to be equal they have passed me by, obviously they are more equal than me.

[.38sw]

After the recall election, I believe I'll register myself out of the Republican party. I registered out of the Democrat party ten years ago - I guess it's time for another change. I think I'll have to register as an independent.

[MD_Willington_1976]

Gee whiz...

I claim myself as a minority and form a special interst group since I am a Hetero-Anglo-Canadian-American...

A special group of Hetero, Non French speaking, White Canadian males living in the United States of America, paying taxes to the American government...

Yeah thats the ticket...gimme gimme gimme

What a joke !

[AdamSelene235]

Free Money for Africa, Free Drugs for Granny, Free Money for Houses. The Republicans are friggin Communist enslavers.

[republicofdavis]

This makes me want to throw up.

[fuquadukie]

Let's see...

Grant: $5,000 * 40,000 leaches = $200,000,000

Homes: $50,000 * 13,000 soon to be rat-traps(homes) = $650,000,000 (Very conservative estimate of cost)

Total: $850,000,000

Knowing how these things work, let's round it off to a nice even number, say... $1,000,000,000. That's 1 BILLION. But, then again, who's counting?

Is this a one-time deal? An annual deal?

Make them earn it just like everyone else. No one has a RIGHT to home ownership.

Damn, why was I born male, white and smart?

[dennisw]

Disgusting.

[dennisw]

OPen to illegal immigrants? Open to legal black/hispanic immigrants who just got off the boat?

They get $5000 and the people I know don't?

[Founding Father]

No sh*t Sherlock! I'm a minority too--I'm a dumb*ss taxpayer who bought a house with my own money.

Folks, the solution is painful, but obvious. Vote against all RINOs, even if it returns control to the thieves from the left--it will hurt for a couple of years, BUT then the stupid party will run conservatives for office.

ALSO, this was a VOICE VOTE, which means the pubbies are chickensh*ts!!!

[MD_Willington_1976]

I was being facetious...I have never asked for a handout and do not expect any...I was raised to pay my own way, if I cant afford it, I dont buy it...and sure as hell don't ask for someone else to pay for me...

[stylin19a]

How's this for creative writing 101...

"While more than two-thirds of all Americans own their home, less than half of all African-American and Hispanic families do not.

so....more than 50 percent of all AA's & Hispanics DO own their own homes?

It's for low-income, first-time buyers, then they specifically mention blacks & hispanics ?

so... how is this giveway to only 40,000 familes going make any meaningful increase in these percentages ?

At least Jesse James used a gun....

[Republic If You Can Keep It]

The recipients will greatly appreciate this program.....

.......and still vote Democratic.

[Clemenza]

OK, will somebody explain to me why it is so damned important to own a home? The federal government has subsidized it like hell since the 1940s and in my 27 years it seems as if there is some politician every few weeks or so talking about the importance of "increasing homeownership." Are landlords really that bad? I've never had any problem with mine. --- Clemenza, Proud renter since 1994.

[Clemenza]

And you wonder why there are so many "first time homeowners" from the Carribbean in Broward County.

[c-b 1]

Hey Denny, it Ain't your money.