It is important. however. that we also understand what the loan guarantees are not. The loan guarantees are not U.S. grants. Under our loan guarantee bill. the U.S. taxpayer will not be sending any funds to subsidize Israeli housing. The loan guarantees are not U.S. loans. The Treasury will not be lending money to resettle the refugees. It will merely guarantee that when private sector lenders lend money for that purpose. the U.S. Government will stand surety for the loan. And we all know that Israel has never defaulted on United States loan guarantees. The only U.S. budget funds involved in the loan guarantee process are the origination fee. which we estimate will amount to $100 million.
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