Why was the Superfund Law created?

The Superfund Law, officially known as the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), was established primarily to address the cleanup of hazardous waste sites. It created a mechanism for funding and managing the cleanup of contaminated sites, ensuring that responsible parties either clean up or contribute to the cleanup process.

By establishing trust funds, the Superfund Law enabled the federal government to step in when no viable responsible parties could be found or when those parties could not afford to undertake the necessary cleanup efforts. This was crucial in addressing environmental hazards that posed significant public health risks, thus making option C the correct answer.

The other choices do not align with the purpose of the Superfund Law. Financing new housing projects, developing affordable housing initiatives, and regulating mortgage interest rates are all matters related to housing policy and finance, not environmental cleanup and regulation.