Proposed Offsets to Shore Up Highway Trust Fund Would Jeopardize Worker Pensions,...

Proposed Offsets to Shore Up Highway Trust Fund Would Jeopardize Worker Pensions, Homeowners, and the Stability of American Communities

Washington, D.C. – July 16, 2015 – (RealEstateRama) — Yesterday, Republican Senate leaders suggested two possible offsets for legislation to shore up the nearly insolvent Highway Trust Fund and provide long-term transportation funding. The first would take money from the Home Affordable Modification Program, or HAMP, which provides foreclosure alternatives to homeowners facing economic hardships. The second offset would cut approximately $30 billion from the federal employees’ retirement program.

Kevin DeGood, Director of Infrastructure Policy at the Center for American Progress, released the following statement:

Transportation infrastructure is the foundation of the U.S. society and economy. We must make smart investments that maintain our existing assets and build for the future, and these investments cost money. However, it is deeply troubling that the Senate Republican leadership thinks that investing in America’s economic future should come at the expense of workers’ pensions, families’ homes, and the stability of our communities. Drivers should pay for the benefits they receive from the highways they use every day.

Julia Gordon, CAP Senior Director of Housing and Consumer Finance, added:

The HAMP funding that Sen. Orrin Hatch (R-UT) proposes to raid goes directly to foreclosure prevention. While we should rebuild our nation’s bridges, we should not increase the number of homeless families living under them.

For more information or to speak to an expert, contact Allison Preiss at or 202.478.6331.

###

To speak with our experts on this topic, please contact:
Print: Liz Bartolomeo (poverty, health care)
202.481.8151 or
Print: Tom Caiazza (foreign policy, energy and environment, LGBT issues, gun-violence prevention)
202.481.7141 or
Print: Allison Preiss (economy, education)
202.478.6331 or
Print: Tanya Arditi (immigration, Progress 2050, race issues, demographics, criminal justice, Legal Progress)
202.741.6258 or
Print: Chelsea Kiene (women’s issues, Talk Poverty, faith)
202.478.5328 or
Print: Elise Shulman (oceans)
202.796.9705 or
Spanish-language and ethnic media: Jennifer Molina
202.796.9706 or
TV: Rachel Rosen
202.483.2675 or
Radio: Chelsea Kiene
202.478.5328 or

Previous articleMERCY HOUSING COLORADO TO HOST “GRAPES AND CAKES” EVENT TO BENEFIT AFFORDABLE HOUSING FOR COLORADANS
Next articleProperty/Casualty Insurers’ Profitability Grows in First-Quarter 2015