I heard of S. 1619 from a Trifecta show at PJTV. I hadn't heard of it anywhere else and for good reason. I tried googling it under news and came up with the title link only. No other analysis or reporting. None.
I'm only going to briefly discuss S. 1619. It does read like a bill only a government could love. Too much of it relates to how the government can incentivize people to live in more urban settings. No doubt the intent by the sponsors who all are Democrats and all who come from states whose majorities are in large urban settings.
Look at this section on Mortgage definitions.
Wonderful that. Giving out mortgages based on peoples decisions to meet the definitions not on their ability to pay. Sound like part of the problem that caused the housing bubble?
What about the "interagency councils?" I'm not quite certain about the executive director. Is this a position requiring confirmation? Or is this just an appointee without oversight? And is this a position that you really want your opposition filling at a later date? Because there is little doubt that the Republicans will be back in power at some point, so how wise is it to create such a position? Sounds in total like another agency run to tamper with existing agencies. Just another layer of bureaucracy that makes things less efficient and more cumbersome.
They also start with $100M of appropriations for the grants. Nice way to start something with really vague definitions. Makes you wonder what the oversight will be like for all that money. Nothing in the bill describes the oversight though. No corruption will be involved though, no doubt. Not that we don't have any worries like we have with ACORN.
Read the bills, and be concerned.
I'm only going to briefly discuss S. 1619. It does read like a bill only a government could love. Too much of it relates to how the government can incentivize people to live in more urban settings. No doubt the intent by the sponsors who all are Democrats and all who come from states whose majorities are in large urban settings.
Look at this section on Mortgage definitions.
(A) the term ‘energy-efficient mortgage’ means a mortgage loan under which the income of the borrower, for purposes of qualification for such loan, is considered to be increased by not less than $1 for each $1 of savings projected to be realized by the borrower as a result of cost-effective energy-saving design, construction, or improvements (including use of renewable energy sources, such as solar, geothermal, biomass, and wind, super-insulation, energy-saving windows, insulating glass and film, and radiant barrier) for the home for which the loan is made; and(B) the term ‘location-efficient mortgage’ means a mortgage loan under which--
(i) the income of the borrower, for purposes of qualification for such loan, is considered to be increased by not less than $1 for each $1 of savings projected to be realized by the borrower because the location of the home for which the loan is made will result in decreased transportation costs for the household of the borrower; or(ii) the sum of the principal, interest, taxes, and insurance due under the mortgage loan is decreased by not less than $1 for each $1 of savings projected to be realized by the borrower because the location of the home for which the loan is made will result in decreased transportation costs for the household of the borrower.
What about the "interagency councils?" I'm not quite certain about the executive director. Is this a position requiring confirmation? Or is this just an appointee without oversight? And is this a position that you really want your opposition filling at a later date? Because there is little doubt that the Republicans will be back in power at some point, so how wise is it to create such a position? Sounds in total like another agency run to tamper with existing agencies. Just another layer of bureaucracy that makes things less efficient and more cumbersome.
They also start with $100M of appropriations for the grants. Nice way to start something with really vague definitions. Makes you wonder what the oversight will be like for all that money. Nothing in the bill describes the oversight though. No corruption will be involved though, no doubt. Not that we don't have any worries like we have with ACORN.
Read the bills, and be concerned.
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