Posted on 04/27/2012 11:36:11 AM PDT by Steelfish
GOP Ignores Veto Threat, Passes Student Loan Bill April 27, 2012
WASHINGTON – Republicans ignored a veto threat and overcame a rebellion by party conservatives to push a bill through the House Friday keeping interest rates on millions of federal student loans from doubling this summer.
Lawmakers voted 215-195 to approve a bill that has become an election-year battle between the two parties over helping families in a persistently ailing economy. The measure sparked debate over women's health issues, too.
The White House and most Democrats opposed the $5.9 billion bill because of how Republicans covered the costs: eliminating a preventive health care fund in President Barack Obama's health care law. They say the program mostly benefits women, while Republicans call it a loosely controlled slush fund.
"This is a politically motivated proposal and not the serious response that the problem facing America's college students deserves," the White House wrote in a veto message shortly before the House vote. Democrats accused Republicans of supporting the effort to keep student loan interest rates low only because of political pressure from Obama.
The House measure is destined to die in the Senate, where majority Democrats have written a version of the bill paid for by raising Social Security and Medicare payroll taxes on high-income owners of some privately owned companies, which GOP senators oppose.
(Excerpt) Read more at foxnews.com ...
Play meaner!
What veto?
Time for Boehner to cry, McConnell to say that they have to do what the President says.
Well played. Make him veto it after giving sob speeches to broke college kids all week.
SnakeDoc
“paid for by raising Social Security and Medicare payroll taxes”
Isn’t this technically illegal? That is, using money from payroll taxes to pay for things other than social security/medicare?
WOW, GOP played for fools again. Shocked, SHOCKED, I say.
Of course, I’d have cut the rate back to 3.4% but reverse O’s takeover of the student load business by the government.
As ususal, Mitt played the fool and “agreed” with Obama. This was an issue where he could have beat him bloody.
First, what’s wrong with 3.4%? Hell, you can get a 30 year APR on a home for 4.25%. Isn’t 6.8% a little high? And even at 3.4% isn’t the government basically breaking even (if all pay it back)?
This is why it would have been a good argument to take the government OUT of the student loan business all together. The best reason being that politicians, as we are watching now, can manipulate the issue for political reasons.
And the GOP and Mitt fall for the trap yet again.
And I’m supposed to believe a president Romney, Speaker Boehner and Majority Leader McConnell is going to be any better than what we have now? Really?
If you believe that you sure are running out of examples to prove your point.
fl
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