Housing bill would provide far more tax relief to businesses than to homeowners

[FreeStateDemocrat]

Source: AP

WASHINGTON (AP) — A measure billed as boosting the slumping housing market showers money-losing businesses with $25 billion in tax relief in the next few years but offers just $3 billion to homeowners.

The estimates released Thursday by congressional scorekeepers lend credence to accusations that the measure helps businesses like home builders while doing little to help millions of families threatened with foreclosure.

The benefits to businesses also dwarf the $4 billion in the measure that would be provided to cities and towns to buy up and refurbish foreclosed and abandoned homes. The only direct help in the measure to homeowners threatened with foreclosure is $100 million to provide counseling to people threatened with foreclosure and help them in negotiating with their lenders.

The Senate officially took up the measure Thursday morning. A vote loomed on a Democratic plan, opposed by banks and their GOP allies, to change bankruptcy laws to give judges the power to cut interest rates and principal on troubled mortgages to help desperate borrowers trapped in subprime mortgages keep their homes.



Read more: http://www.herald-mail.com/?cmd=displaystory&story_id=190243&format=html

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Hate to say it, but Nadar is correct when he says both parties are corporate controlled. Anyone like to explain to me how a Dem congress has made any real difference? Have they started working on articles of impeachment yet or are they to busy working on their only core interest, trying to continue in power.

Sell out, fuck the ruling class. I may have cast my last ballot, I don't dig the game their playing and realistically there isn't a damn thing I can do about it.

[Selatius]

1. Money talks, and it's an election cycle.

In America, you need money to get the power.

As long as you have a campaign finance system built on private donations, you are always going to see monied interests with a big voice at the bargaining table every time. I guarantee it.

[Changenow]

2. Don't they pretty much do

them routinely anyway?

[depakid]

3. About 1/4 of the Dems in Congress might as well be Republicans

People ought to think about that before sending money to the likes of the DCCC because they're angry at Hillary.

[Hulk]

4. Nothing new here folks....did the little homeowners REALLY think they were going to get help??

Colbert had a great clip on this very subject. They should go out and buy an eight billion dollar house with gold toilets, and then they might be able to expect a bail out. That's how this corrupt government "of the people, by the people, for the people" works......<cough, cough>

[newburgh]

5. Bbbbbbut, this is DEMOCRATIC Underground. Shouldn't you at least pretend

to be nice to the Democrats. After all they're reforming the election system and making sure the oil company's windfalls are no longer subsidized and bringing the troops home. Nader- ptewy! He's the guy who stole all the votes from the Democrats who couldn't find the right chad.

:sarcasm: