I am pleased to note that the program for housing for the elderly which was so vigorously opposed by the Republicans is about to begin its first pilot project.
The first direct loan to a private nonprofit organization for constructing housing for the elderly has been approved for the Detroit, Mich., area. Other pilot projects around the country will begin shortly, due to the insistence of Democratic Members of Congress - such as Congressman Albert Thomas of Texas, who forced the administration to start this program.
The favorable interest rate of 3 1/2 percent on a long-term direct loan will greatly assist in providing adequate housing for our senior citizens at a price which they can pay. During the last session of Congress $20 million were approved for this program over the objections of the Republicans as expressed by Norman P. Mason, Administrator of the Housing and Home Finance Agency.
Democrats in the Congress, led by Senator John Sparkman and Congressman Albert Rains, can take great pride in initiating this worthwhile program of assistance for elderly people. I firmly believe the pilot program will prove a tremendous success and I look forward to an expansion of this program to meet the needs of the ever-increasing number of our senior citizens.