As Budget Resolution is Crafted, Senators Say Bank and Housing Emergency Spending Should Be Used to Pay Back Taxpayers Through Deficit Reduction

Washington, DC – February 25, 2010 – (RealEstateRama) — With the U.S. Senate expected to take up the Budget for the upcoming fiscal year in the next few weeks, Senators Michael Bennet (D-CO), Bob Corker (R-TN) and Jon Tester (D-MT) are telling Senate budget leaders to ensure funds repaid by beneficiaries of taxpayer-funded emergency spending are used to pay down the debt, not fund further deficit spending. The Senators urged the Senate Budget Committee to adopt the Pay It Back plan as part of the Senate’s Budget, and noticed an intent to file an amendment that mirrors Bennet’s Pay It Back Act, which requires returned emergency spending to go towards deficit reduction, if budget leaders don’t include Pay It Back provisions as part of the Budget