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Subsidizing the Donor Class

March 8, 2011 - by Donny Shaw

Yesterday I wrote about a bill scheduled for a vote this week that would eliminate a program that provides bridge loans to unemployed homeowners to help them avoid foreclosure. The program has $1 billion in total lending authority, and homeowners are required to pay the government back when they become employed again. House Republicans say they're going after the program a matter of fiscal responsibility. But here's the thing -- at the same time that they're trying to cut $1 billion in loans for the unemployed, they're fighting to protect a $100 billion program that provides tax breaks to homeowners, with benefits flowing overwhelmingly and disproportionately to the wealthy.

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