LIUNA Intensifies Fight Against $25 Billion Handout for Corporate Home Builders and for Real Relief from the Housing and Mortgage Crisis

2008-04-29 23:58:11 -

- Laborers' International Union of North America Jacob Hay, 202-942-2285 or 202-445-4788 jhay@liuna.org LIUNA - the Laborers' International Union of North America - will intensify its effort to halt a $25 billion taxpayer handout for corporate home builders who helped caused the mortgage and housing crisis with a symbolic protest at the National Association of Home Builders lobbying conference and launching of online and newspaper ads appealing to Congress.

Through their subprime and high-risk mortgage lending subsidiaries, corporate home builders helped create the current crisis which has contributed to the loss of 359,000 construction jobs since 2007. The actions of corporate homebuilders have also contributed to as many as 3 million Americans facing foreclosure and the loss of nearly $1 trillion in investment value, weakening workers' retirement security. -0- WHAT: "Pigs at the Trough" tour comes to the National Association of Home Builders legislative conference. WHEN: 8:00 - 10:00 a.m. Wednesday, April 30, 2008. WHERE: Washington Hilton, 1919 Connecticut Ave., Washington, D.C. VISUALS: More than 50 protestors, including pigs at the trough.

The U.S. Senate has passed a version of the Foreclosure Prevention Act, the majority of which goes to pay for taxpayer handouts to corporate home builders, not to help struggling homeowners. The House of Representatives will soon take up the legislation. In print and online ads launching Wednesday, LIUNA appeals to the House to make the Foreclosure Prevention Act live up to its name. The NAHB, which had threatened to cut off political contributions if it does not get the legislation, is expected to lobby the House Wednesday for the tax breaks. LIUNA and others will demonstrate with "pigs at the trough," as the union has done in several cities to protest the proposed corporate homebuilder handout.

LIUNA is fighting for a solution to the crisis which helps to restore jobs, stabilize the housing market, return shareholder value to home builders and work with home builders to create a sustainable model for a healthy industry.

The half-million members of LIUNA - the Laborers' International Union of North America - are on the forefront of the construction industry, a powerhouse of 10 million workers who build America.

Protest Set for National Association of Home Builders Washington,
D.C., Lobbying Conference As Union Seeks Sustainable Solution for
Workers, Homeowners and Builders

Online and Newspaper Ads Launched Appealing to Congress