According to the GAO, Obama’s administration will be handing over more than $300 million tax dollars to Muslims to help pay their mortgages. $110 million of this money will be used as loans for businesses located in the West Bank.
The name of the group in charge of this is called the Overseas Private Investment Corporation. According to their website, ““OPIC provides financial products, such as loans and guaranties; political risk insurance; and support for investment funds, all of which help American businesses expand into emerging markets.”
The OPIC is partnering with a group created by the Palestinian Authority president. The GAO notes , ” PIF is governed by a board of directors and a general assembly appointed by the Palestinian Authority President, and manages investments throughout a number of sectors…”
They claim this will help emerging U.S business in the middle east. Though, some argue this money will be going to terrorist linked groups and businesses.
The OPIC claims all groups who will manage the money have been vetted to make sure the money isn’t going to the wrong people.
What do you think? Why isn’t this money staying in the U.S. where it is needed?