During a recent appearance on NewsNation's "The Hill," Joseph Lavorgna, who serves as Counselor to the Secretary of the Treasury Scott Bessent, clarified that the idea of a 50-year mortgage did not originate from the Treasury Department.
He further expressed skepticism about the proposal, describing it as "probably not an optimal approach."
As reported by Breitbart, host Blake Burman inquired whether the Treasury Department supports the concept of a 50-year mortgage. Lavorgna responded by stating, "The Treasury Department is looking at all sorts of factors. That was one proposal. The feedback has been such that, probably and it did not come from Treasury but probably not an optimal approach."
He emphasized the department's commitment to exploring various strategies to assist working-class Americans, including efforts to streamline permitting processes and reduce closing costs. Lavorgna acknowledged the challenges posed by high interest rates and restrictive monetary policy, which fall under the Federal Reserve's jurisdiction.
He added, "But, again, were trying to come up with everything possible to help working-class Americans, of which the one big, beautiful bill certainly is a key cornerstone to. And if we can do other things, such as lowering the price of coffee and bananas and all sorts of things that the Secretary mentioned, were going to pursue every option we possibly can, every little bit will help."
The Treasury Department's focus remains on finding practical solutions to alleviate financial burdens for everyday Americans. While the 50-year mortgage proposal may not be the answer, the department is actively seeking measures to enhance economic stability and prosperity.
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