Staff Reports
The California Senate has once again made headlines, but not in a way that will have most hard-working Americans patting their backs. In a stunning display of partisanship, the Senate passed a bill allowing undocumented immigrants to partake in the state’s ludicrous zero-down, zero-interest home “loans” program. One could only hope that this isn’t the new definition of “American Dream” that West Coast progressives have adopted.
The vote ended with 23 in favor and 11 opposed. All nine Republicans stood against this latest assault on common sense, alongside two Democratic senators who must have felt a momentary twinge of sanity. The bill, aptly named California’s Dream for All Shared Appreciation Loans program, allows individuals to acquire loans up to $150,000 without a down payment or any monthly payments at all. Sounds like a deal too good to be true, right? That’s because it probably is. The state collects the original loan amount plus an additional 20% of the home’s appreciated value whenever it is sold or refinanced. In short, they’re betting on even more taxpayer dollars waiting to be harvested down the road.
OMG!
California Senate passes 0 down, 0 payment home ‘loans’ for illegal immigrants #Illegalimmigration #Senate #Mortgage #GavinNewsomhttps://t.co/rII5BbFtat— AIN'T NO SENATORS SON (@Carry_a_40) August 28, 2024
In the last fiscal year, this program had a budget of $255 million, which allowed for just 1,700 fortunate “lottery winners” to snag free cash. This year, however, the state has no allocated funds for the same, as it grapples with a staggering $47 billion deficit. If anyone believes for a moment that California will find the money to fund this program anytime soon is simply living in a fantasy world. With state finances in shambles, this bill is basically giving undocumented immigrants a ticket to ride the financial gravy train when the train tracks are clearly out of service.
Additionally, the bill cleverly sidesteps the crucial question of how long a family can hold onto a home under these terms. One can only imagine the inventive financial gymnastics that could ensue, allowing certain trusts to wriggle out of reimbursement. Meanwhile, Democrats argue that anyone applying for this gravy train must be entitled to it because they are “paying taxes,” which is an interesting logic. Paying taxes does not automatically grant entitlement to other people’s earnings and resources, yet this seems to be lost in the fog of progressive rhetoric.
Perhaps the most eye-rolling moment came when California Senate Minority Leader Brian Jones pointed out the absurdity of giving free cash to illegal immigrants while many legal residents, including veterans and teachers, struggle to afford their homes. The state already dumps $5 billion a year into providing free healthcare for people who are not legally supposed to be in the country—will this be the new normal in Democratic California? As the bill inches toward final approval, one has to wonder how much more the taxpayers and hardworking citizens can stomach before they say “enough is enough.”
