A Biden administration plan set to take effect today forces people with good credit scores to subsidize mortgage loans of higher-risk borrowers, effectively punishing people who are financially responsible.
The plan intends to help low-income borrowers afford monthly mortgage payments by forcing people with good credit scores to pay more every month for their mortgage.
This essentially creates a socialist system in which money is redistributed based on one's economic standing.
On Monday, state treasurers and other top finance officials from 27 states called on the White House to revoke the "unconscionable" policy released by the Federal Housing Agency (FHFA) just a few weeks ago.
"It is already clear that this new policy will be a disaster," state finance leaders wrote in a letter sent to Biden. "It amounts to a middle-class tax hike that will unfairly cost American families millions upon millions of dollars... We urge you to take immediate action to end this unconscionable policy."
The letter was signed by treasurers, auditors, commissioners of revenue and other top officials from Alabama, Alaska, Arizona, Arkansas, Florida, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Nebraska, Nevada, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, South Carolina, South Dakota, Texas, Utah, West Virginia, Wisconsin and Wyoming.
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Put simply, this was never the purpose of government. When over half of the states take a stand against the federal government, there's clearly an issue at hand.
We the People will not sit back and allow the government to punish those who live a financially responsible lifestyle so that reckless spenders can reap the benefits through Uncle Sam.
This confirms the urgency of reining in the feds. Through Convention of States, we can put permanent restraints on power-hungry bureaucrats. Support the movement by signing the petition below.
