Zachary T. Space: “Home foreclosures are, unfortunately, something that Ohioans face far too frequently. Ohio ranks near the top in the…”

“Home foreclosures are, unfortunately, something that Ohioans face far too frequently. Ohio ranks near the top in the Nation in foreclosures. In this year alone, approximately 61,000 families will have their homes foreclosed upon. These are families who have fallen victim to unscrupulous subprime lending brokers, who have fallen victim to failing health, and who have fallen victim to a changing economy, one where we have seen our manufacturing base eroded, our cost of the living through gas and utilities increasing, and stagnant wages. The phantom tax on forgiven debt adds injury to insult, especially to working families who have undergone the trauma of a foreclosure. I am very grateful for Chairman Rangel's leadership on this issue and thankful that our leadership as the Democratic Party has taken up this cause as well. And, furthermore, I am gratified at the bipartisan support that this body has demonstrated in its commitment to tax relief for middle-class and working families.”