President Obama tweeted the following today: “@BarackObama: Today nearly every GOP senator voted to make more than 7 million students pay an average of up to $1,000 more for loans.” What did the GOP-lead House give as a reason to thwart the efforts to stop student loan interest rates from doubling? Because the Democrats would pay for the bill by raising payroll taxes on high-earning stockholders of privately owned corporations. What are the values displayed here? That the GOP House feel it is more important to protect the extra cash of rich stockholders than students who are barely able to make their payments as it is.
Republicans have blocked the Senate from debating a Democratic bill keeping interest rates on college loans from doubling this summer for 7.4 million students.
Republicans say they support heading off higher rates on subsidized Stafford loans. They oppose how Democrats would pay for the measure — raising payroll taxes on high-earning stockholders of some privately owned corporations.
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