Wayne Allard on Welfare & Poverty Republican Sr Senator (CO)

Tax credits to promite home ownership in distressed areas.

Amends the Internal Revenue Code to permit a community homeownership tax credit based upon an applicable percentage of each qualified residence's eligible basis. Makes such credit available to residences (including factory built homes) located:

1. in a census tract with a median gross income not exceeding 80 percent of the greater area or statewide median gross income;
2. in a rural area;
3. on an Indian reservation; or
4. in an area of chronic economic distress.

Limit welfare to 2 years & cut welfare spending.

[As part of the Contract with America, within 100 days we pledge to bring to the House Floor the following bill]:

The Personal Responsibility Act:
Discourage illegitimacy and teen pregnancy by prohibiting welfare to minor mothers and denying increased AFDC for additional children while on welfare, cut spending for welfare programs, and enact a tough two-years-and-out provision with work requirements to promote individual responsibility.