Homeowner Refinancing Would Kick-Start the Economy
Steven S. Fischman is the president and COO of Massachusetts-based New England Development, a nationally known retail development company. David M. Abromowitz is a Senior Fellow at the Center for American Progress.
The recent overwhelming passage of the JOBS Act proves that when the business community unites behind legislation, even a bitterly divided Congress can join hands and act.
So next up on the business agenda should be something less obviously a business issue but arguably more beneficial to the economy—pushing to unleash the spending power of millions of U.S. households by clearing away barriers to refinancing for homeowners current on their mortgage payments.
That’s the single biggest step Washington can take to kick-start anemic consumer spending and boost businesses’ bottom lines. With mortgage rates finally creeping up from historic lows the window of opportunity for such a sensible economic policy may be closing.
Read more here.
This article was originally published in U.S. News and World Report.
To speak with our experts on this topic, please contact:
Print: Liz Bartolomeo (poverty, health care)
202.481.8151 or firstname.lastname@example.org
Print: Tom Caiazza (foreign policy, energy and environment, LGBT issues, gun-violence prevention)
202.481.7141 or email@example.com
Print: Allison Preiss (economy, education)
202.478.6331 or firstname.lastname@example.org
Print: Tanya Arditi (immigration, Progress 2050, race issues, demographics, criminal justice, Legal Progress)
202.741.6258 or email@example.com
Print: Chelsea Kiene (women's issues, TalkPoverty.org, faith)
202.478.5328 or firstname.lastname@example.org
Spanish-language and ethnic media: Rafael Medina
202.478.5313 or email@example.com
TV: Rachel Rosen
202.483.2675 or firstname.lastname@example.org
Radio: Sally Tucker
202.481.8103 or email@example.com