Congress Returns Facing Student Loan Rates, Highway Funding

Monday, 18 Jun 2012 09:56 AM

  Comment  |
   Contact  |
  Print  
|  A   A  
  Copy Shortlink
Congress returns to work this week facing contentious issues that could reverberate in the November elections. Among issues on the agenda is the interest rate on student loans and funding for highway and bridge construction, The Washington Post reported.

Interest rates on federally subsidized student loans are set to double, from 3.4 percent to 6.8 percent, on July 1. On that same date, a short-term extension of the highway bill will expire. House and Senate members have been working for weeks on a compromise $109 billion highway funding bill.

The talks seem to be stalled over House GOP demands to include approval of the controversial Keystone XL oil pipeline in the measure. House Speaker John Boehner, R-Ohio, has already raised the possibility of another six-month extension of the old measure, the Post reported.

On the student loan issue, both sides have said they agree on keeping the loan rate down and they are keenly aware that letting the rate rise would be politically dangerous. Both President Barack Obama and GOP presidential candidate Mitt Romney concur on a freeze as do House and Senate leaders, the Post reported.
However, the two sides have yet to agree on how to pay the $6 billion it will cost. Sen. Bob Corker, R-Tenn., said, according to the Post, “This is going to happen. Both presidential candidates want it to happen. It will happen.”

However, he predicted it will be “done in a way that’s terrible policy for our country.”


© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Twitter to Track Which Apps Its Users Have

Wednesday, 26 Nov 2014 22:22 PM

If you use Twitter on your cellphone, the social media site will soon begin tracking which apps you use unless you activ . . .

Harry Reid: 'We Sure Do Like' Pope Francis

Wednesday, 26 Nov 2014 22:09 PM

Senate Majority Leader Harry Reid, a Mormon, says he's an unabashed fan of Roman Catholic Pope Francis. . . .

GSK Ebola Vaccine Fast-tracked for Human Trials

Wednesday, 26 Nov 2014 20:37 PM

Preliminary results in human volunteers are promising from U.S. trials of one of the leading Ebola vaccine candidates. . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved