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ACORN Out of Economic Bill

Posted on September 28, 2008 by kmorrison33

From CBS News/Politico

ACORN Outrage Removes Affordable Housing Provision

(The Politico) The ACORN issue is off the table.

After several days of rage from conservative activists regarding a provision in the bailout bill that would send some of the profits from the sale of distressed assets the goverment buys into an affordable housing trust fund, congressional negotiators have removed section 105(d) of the bailout proposal, according to aides on both side.

ACORN, a Democratic ally, was not specifically directed any funds in the previous proposal, but money that went to state and local governments could then have been divvied out to the organization, which the GOP said was a deal breaker. Fevered opposition to the provision had become a viral sensation.

It appears that, with the removal of the affordable housing trust fund, all of the proceeds from the sale of assets will now go to retire the debt.

The revised version of the bill drops the housing trust fund, a source of possible abuse, and includes insurance against taxpayer losses making it look to be a significantly stronger plan than the first version announced last week before House Republicans had signed on.

Filed under: Economy, McCain, Obama, Politics | Tagged: , , , ,

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2 Responses

  1. Joanne, on September 29th, 2008 at 9:58 am Said:

    Did Obama negotiate this one as well? Now let us get to the voter fraud that Acorn is involved in! Last time I looked, it was illegal to register a “five year old boy” to vote!

    Reply
  2. kathyinNew Mexico, on October 1st, 2008 at 4:19 pm Said:

    ACORN is bad news. Glad they removed them from the bill. Our state is the latest that is investigating them. Isn’t anyone item worth just passing without adding nonsense spending to it.
    Sure hope they have a caps on money that persons in charge of this can get.

    Reply

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