A few weeks ago, Joe Biden came up with what just might be the worst idea that any president in American history has ever tried.
He's pushing a new policy of forcing people with good credit scores to subsidize higher-risk borrowers.
On Monday, 27 states came together and urged Biden to end this "unconscionable" new policy before it ends in "disaster."
Despite Biden only announcing this terrible plan a few weeks ago, it took effect already on May 1.
Biden's plan adds a tax to the mortgages of people with good credit scores and will use that money for mortgages of buyers with bad credit scores or lower incomes.
Everyone seems to hate this idea already, with Democrats and Republicans uniting almost immediately to speak out about one of the most outrageous oversteps in presidential history. Even Barack Obama's former Federal Housing Administrator is sure this is going to tank America.
"It is already clear that this new policy will be a disaster," the 27 states wrote. "It amounts to a middle-class tax hike that will unfairly cost American families millions upon millions of dollars. And – at a time when the real estate market has already slowed considerably due to high interest rates – it will further depress home sales." They added:
We urge you to take immediate action to end this unconscionable policy.
It's important to share the news to spread the truth. Most people won't.