Rural Housing Service Loans Cost Federal Taxpayers Far More than Initial Estimates
Created on March 23, 2016
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By law, Congress must estimate how much the Rural Housing Service loan programs will cost taxpayers. However, calculations are completed once at the onset of the loans, and then revised in subsequent years. In more than half of those cases, the revised estimates have been higher than the initial estimates, indicating an even higher cost to taxpayers.
Source: Office of Management and Budget, Supplemental Materials: Federal Credit Supplement, FY 2016, Tables 7–8, pp. 29–35, 60–63, https://www.whitehouse.gov/omb/budget/Supplemental (accessed October 19, 2015).
CHART 2 • BG 3097
Tags: Rural-Housing-Service, mortgage-programs, loans, grants