Julian Bond: “Some people are a little confused. In 30 seconds--50 seconds maybe--let me tell you, this is $2 billion in direct equity…”

“Some people are a little confused. In 30 seconds--50 seconds maybe--let me tell you, this is $2 billion in direct equity that goes to State housing finance programs to produce affordable housing. The funds come from the home moneys in the bill. The funds go to shovel-ready projects that have already been approved by State credit agencies. Why can't they go forward? Because of the credit crisis and the crunch, the tax credits are no longer worth what they used to be worth. This amendment allows to fill in the hole. It makes the projects viable. There will be tens of thousands of new units and tens of thousands of new jobs.”