Garrett vs. 1.4 million Home Buyers

by: rmfretz

Fri Nov 20, 2009 at 02:42:57 PM EST

Representative Scott Garrett finally explained why he voted against extending unemployment benefits and the first time home buyer tax credit:

So, in sum, we have a program rampant with fraud, which gives taxpayer dollars to people who don't legitimately qualify, and fails to appropriately credit the individuals that do qualify. It's clear that employees of the IRS were aware of the problems with claims process for this program, as the inspector general found 53 cases of IRS employees filing "illegal or inappropriate" claims for the credit. In its current form, this program costs taxpayer about $1 billion a month and is expected to cost $15 billion for the year. Rather than terminate this program, Congress voted on November 5 to expand the program to homeowners looking to buy a replacement principle residence. How many more four-year olds will fraudulently receive taxpayer money under this program before Congress realizes this is a terrible idea?

Voting to expand this program would have been irresponsible of me, and an abdication of my responsibility as a guardian of taxpayer dollars. The Homebuyer Tax Credit Program was a poison pill to otherwise well-intended legislation.

It bears repeating that Garrett was one of 2.7% of the House to vote no on this bill, so it hardly was a poison pill.