ACORN Outrage Removes Affordable Housing Provision

By Ryan Grim

(The Politico)  The ACORN issue is off the table.

After several days of rage from conservative activists regarding a provision in the bailout bill that would send some of the profits from the sale of distressed assets the goverment buys into an affordable housing trust fund, congressional negotiators have removed section 105(d) of the bailout proposal, according to aides on both side.

ACORN, a Democratic ally, was not specifically directed any funds in the previous proposal, but money that went to state and local governments could then have been divvied out to the organization, which the GOP said was a deal breaker. Fevered opposition to the provision had become a viral sensation.

It appears that, with the removal of the affordable housing trust fund, all of the proceeds from the sale of assets will now go to retire the debt.