Republicans Block Bill to Halt Student Loan Interest Rate Increase
Senate Republicans derailed a Democratic bill on Tuesday that would keep interest rates on federal college loans from doubling July 1 in an election-year battle aimed at the hearts — and votes — of millions of students and their parents.
Republicans said they favor preventing the interest rate increase but blocked the Senate from debating the $6 billion measure because they oppose how Democrats would pay for it: Boosting Social Security and Medicare payroll taxes on high-earning stockholders of some privately owned corporations.
GOP senators want a vote on their own version heading off the interest rate increases and paid for by eliminating a preventive health fund created by President Barack Obama’s 2010 health care overhaul.
Now that’s just cold. They want to pay for it by eliminating a preventive health fund? Republicans, guys have ice in your veins.
Oh, and I hope Democrats are putting an ad together right now.