Monday, September 24, 2012

Republicans still refuse to return $50M mortgage settlement

Leave struggling families at risk to fund special interest giveaways

STATE CAPITOL, PHOENIX – This afternoon Arizona Attorney General Tom Horne announced how the state, in his words, "will utilize the $57 million dollars allocated as part of the National Mortgage Settlement."

Arizona's actual allocation from the National Mortgage Settlement is more than $97 million, plus $10 million from a settlement with Bank of America.

So what happened to the missing $50 million dollars?

The Republican-controlled Legislature and Governor Brewer swiped it to fund special interests.

Instead of helping struggling homeowners, Republicans swiped half the fund while spending money on more private prisons and giving away $440 million in tax cuts for corporations and Wall Street investors.

Since 2007, Republicans have also cut more than $2.9 billion from our kids' schools and kicked tens of thousands of children off healthcare.

Arizona Senate Democrats have stated that sweeping the $50 million from the mortgage settlement was not necessary and have called on Governor Brewer and Legislative Republicans to halt the sweep.

Now they act as if the $50 million doesn't exist.

Sen. Schapira
"This hard-fought settlement is meant to help Arizona families who are struggling to keep their homes, not to fund tax breaks for special interests," said Sen. David Schapira.

"Republicans should care about Arizona families, not special interests, and put an end to their sweep of the mortgage settlement."

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