HR 4899, S3266, and HR 5007- Guaranteed Funding Update

This is just a short, quick update on USDA Rural Development Guaranteed Funding and the bills: HR4899, S3266, and HR 5007.

So many peoples lives are being held in limbo because of the lack of USDA funding.  Entire families lives are on hold waiting on Congress and our Senate to pass a bill, ... any bill will do at this point so these people can get on with their lives.

If it doesn't happen in the next few days all of these families will not qualify for the Home Buyer Tax Credit.  $8000 is a lot of money to these families.  Their loan must close by 6/30/2010 to qualify.  Some loans are actually structured based on that tax credit! 

This is the saddest example of miss-management and lack of foresight I have ever seen.  Who is going to suffer?? ...  the very people our government is trying to help!

HR 5007 was approved in the House but not the Senate.  HR 4899 and S3266 are back in the Senate and different than the House Bill.  What does all this mean?  I have no idea at this point. 

Following is a post from Anonymous, who seems to have a better handle on it:

Anonymous said...


HR 4899 is the FY 2010 Emergency Supplemental appropriations (Disaster Relief and Summer Jobs) which is scheduled to be up for debate in the Senate when they reconvene on 5/24/2010. Details on this bill can be found at http://thomas.loc.gov -- with any luck, the Senate will approve some version of this bill with additional USDA funding by 5/28, after which they are in recess until 6/7. The House will have to vote on this legislation too. They will also be in recess after this week until 6/7.

Well, Anonymous seems to know a lot more than most of us.  Follow his links and get back to us.  We all need to know.  The USDA offices know nothing and are being kept in the dark too.  I guess that is not a fair statement.  Who, I mean really, ... who can predict what our congress or Senate will do?  The USDA people are just as upset about this as the rest of us are.

The only facts we know are:  The Guaranteed funding has run out.  They are not issuing Conditional Commitments.  They have no idea if or when funding will be allocated.

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