In Opposition to…

A. 10083 Silver  (On Housing Committee Agenda)

Purpose:  The purpose of this bill is to stem the rising tide of foreclosures related to the subprime lending crisis by assisting homeowners with subprime mortgages facing foreclosure.

Party Position:  Taxpayers in New York State are already paying the highest taxes in the nation. Currently they are facing an approximate $4 billion deficit and a budget that increases spending by almost 5%. Inflation is rearing its ugly head, government forcing ethanol is increasing the cost of food and house values are plummeting while the percentage people pay on credit cards is skyrocketing.

People who made poor decisions will be rewarded if this bill becomes law and the honest, struggling person will be forced to pay for their poor decisions.

Instead of “bailing-out” poor decision making with the “foreclosure prevention act of 2008” that allocates $180,000,000 of taxpayer monies, to keep people in housing they can not, nor could they afford, we must let the housing market correct itself.

It is morally wrong to saddle those who have purchased houses they can afford, who live within their means, to pay additional taxes to bailout companies and people who made very poor decisions.

It is morally wrong for government to penalize the hardworking people who are the backbone of this state while the poor decision makers rely on government handouts.

We strongly urge you to vote NO on this proposal.  

 

LM 2008-01