Under the loan guarantee proposal. the United States taxpayer will not be spending a single dollar to subsidize Israeli housIng. And the loan guarantees are not U.S. loans either. The U.S. Treasury will not be lending a single dollar to the effort 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 there is practically no risk in that. because 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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refugees