The Waste List > Total Value of Government Waste: $57,322,568,479
Housing Assistance (Emergency Assistance to Housing Market or Current Homeowner)
The following are 16 duplicative spending programs for Housing Assistance (Emergency Assistance to Housing Market or Current Homeowner) across 5 agencies:
AgencyDetailsCost
Department of Housing and Urban Development Tax Credit Assistance Program
Department of Housing and Urban Development HOPE for Homeowners $3,000,000
Department of Housing and Urban Development Neighborhood Stabilization Program $1,980,000,000
Department of the Treasury New Issue Bond Program: Purchase securities of Fannie Mae and Freddie Mac backed by new housing bonds issued by the Housing Finance Agencies (HFA Initiative) ($79,000,000)
Department of the Treasury Temporary Credit and Liquidity Program: Purchased participation interests in government-sponsored enterprises liquidity facilities available for outstanding housing bonds issued by state and local HFAs (HFA Initiative) ($552,000,000)
Department of the Treasury Housing Finance Authority (HFA) Hardest Hit Fund $7,600,000,000
Department of the Treasury Grants to States for Low-Income Housing Projects in Lieu of LowIncome Housing Credits Program (Section 1602 Program) $3,083,000,000
Department of the Treasury Making Home Affordable (MHA)
Department of the Treasury Preferred Stock Purchase Agreements with Fannie Mae and Freddie Mac
Department of the Treasury Purchase of mortgage-backed securities issued by Fannie Mae and Freddie Mac ($1,114,000,000)
Department of the Treasury and Department of Housing and Urban Development Federal Housing Administration Short Refinance program $8,120,000,000
Federal Reserve System Purchase of mortgage-backed securities issued by Fannie Mae, Freddie Mac and Ginnie Mae
Federal Reserve System Purchase of Fannie Mae, Freddie Mac and Federal Home Loan Bank debt
Internal Revenue Service Exclusion of forgiven mortgage debts $1,480,000,000
Internal Revenue Service First-Time Homebuyer Tax Credit $13,680,000,000
Internal Revenue Service Increased standard deduction for property taxes $500,000,000

Source: Table 10, Appendix III, "Opportunities to Reduce Duplication, Overlap and Fragmentation, Achieve Savings, and Enhance Revenue," Government Accountability Office, 2/28/2012