Free Republic

The American dream, as conceived by the nation's founders, has little in common with H.R. 1276, the so-called American Dream Downpayment Act. In the original version of the American dream, individuals earned the money to purchase a house through their own efforts, oftentimes sacrificing other goods to save for their first downpayment. According to the sponsors of H.R. 1276, that old American dream has been replaced by a new dream of having the federal government force your fellow citizens to hand you the money for a downpayment. H.R. 1276 not only warps the true meaning of the American dream, but...

Speaker Hastert Touts Law Closing the Homeownership Gap for Minorities 10/1/03 5:46:00 PM -------------------------------------------------------------------------------- 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...

September 30, 2003Operating under the delusion that alienating Constitution-believingconservatives is a good electoral strategy for them, HouseRepublicans are pushing a new $200 million program to forcetaxpayers to make housing down payments for 40,000 low-incomehombuyers. This money will not be a loan, but a grant.The vote on that legislation, H.R. 1276 will occur tomorrow,Wednesday, October 1, at 10:00 a.m.As actual taxpayers know, lenders require a downpayment to ensurethat the buyer has the fiscal discipline, the resources, and thewillingness to continue to make payments month after month. IfH.R. 1276 is passed, the result will be that, a year from now,40,000 defaulting purchasers...