You're watching...
Capital Research Center Senior Editor Matthew Vadum discusses where the funds for National Housing Trust Fund will be spent.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Welcome back to follow money now you thought this problem went away but it didn't.
Millions of tax dollars could still.
Controversial nonprofit housing groups like Acorn and the new tax funding is supported by the Obama administration.
The national housing trust fund is a billion dollar fund making it's way now through congress it -- be the lightning -- to resurrect.
The Frankenstein that is Acorn to get it back up on its feet joining me now is capital research -- senior editor and author of the book.
Subversion a -- about a Matthew make -- -- Okay what what what is happening is that.
The left is going all out to defend this affordable housing trust fund that was actually approved in a previous congress.
The thing is He didn't actually receive any funding.
But they want to keep it alive sold that it can get funds in the future.
It wouldn't be funded by Fannie Mae and Freddie Mac if they ever start to turn a profit again.
So that -- left wants to keep all its options open.
To be able to feed at the public trough.
Housing trust funds affordable housing trust funds exist all around the country.
Also what the state and city and county -- Matthew do we have any indication that Acorn it is is talking about this or -- will get -- any of this money whatsoever.
Well they.
Acorn gets at these funds in directly they get block granted out to states.
And then that they apply for the funds and they receive.
Sub grants that's what they call them an accounting speak.
And yes they do get these funds and Acorn still exists.
The lead chapter that that ran the whole thing the shell corporation Acorn -- File chapter seven bankruptcy.
But the state chapters have reorganized themselves under -- -- names so.
New York is New York communities for change California's alliance of Californians for community empowerment.
And all of these groups are going to seek federal funding I know that they have already received.
Funding from charitable foundation so they're trying to reestablish.
The the financial highs that they had previously are -- data thank you so much.
