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Mr. Smith is a Systems Architect for a major financial services company. Although he spent several years in pursuit of higher education, he does not hold a degree. He has experience in broadcasting, music and computers.

Follow-up On The Housing Bill

By Art Smith.  Posted Monday, Jul 28, 2008 at 6:00 am  
Filed Under: Economy, Energy, Housing, Mortgages, TAXES, US Congress

In reference to my post on Saturday regarding HR 3221, the “Housing and Economic Recovery Act of 2008″, I discovered a site where there is a copy of the Congressional Budget Office Cost Estimate for HR 3221. Over the next ten years, according to the estimate, this bill will create a nearly $25 Billion deficit.

Another blogger, John D. Thornton, has some interesting insights regarding the OFHEO.

I’ve been getting some hits on Saturday’s post that are searches like this “explain the $7500 tax credit on the new housing bill that was just passed“.   I’m glad to see there are people wanting to understand it better.  This could be achille’s heel of the bill.

There is additional information available (this is where I found the cost estimate) at WashingtonWatch.com.

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