Providing for Consideration of H.R. 839, Hamp Termination Act of 2011; and Providing for Consideration of H.R. 861, NSP Termination Act

Floor Speech

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Ms. HIRONO. I thank the gentleman from Colorado for the time.

I rise in strong opposition to H.R. 861, the Neighborhood Stabilization Program Termination Act, NSP.

We keep hearing from the other side about wasteful government spending. Nothing represents wasteful government spending more than the continuing billions and billions of dollars of taxpayer money that we give to Big Oil, which is making record profits. This bill continues the Republican assault on the middle class and the working people.

For the sake of our communities, we cannot afford to terminate NSP. By redeveloping foreclosed and abandoned properties, this program is stabilizing neighborhoods nationwide. This not only increases property values but also reduces the number of foreclosures. NSP provides a lifeline to struggling families who are trying to secure affordable housing or simply stay in their homes.

Like the rest of the country, Hawaii has a foreclosure crisis. We rank 10th in the Nation in the rate of foreclosures. The $19.6 million in NSP funding that Hawaii received is helping our communities in the greatest need throughout my State. The City and County of Honolulu will use these funds to redevelop vacant properties and build two affordable rental housing projects in Ewa and Waianae. In Hawaii County, an affordable rental housing project will be built on vacant property in Kailua-Kona. In the counties of Maui and Kauai, NSP funds will be used to buy and rehabilitate abandoned or foreclosed homes and residential properties throughout both counties.

So you can see that this is money that is not represented as wasteful spending. Our communities need our help. Vote against this bill.

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