re: It’s the Senate’s turn to save college students from a crippling interest rate hike
With the student loan interest rate set to double on July 1st – and outstanding student loan debt now over one trillion dollars – Democrats in the Senate will bring legislation to the floor to prevent rates from going up – and pay for it by closing a corporate tax loophole. Unfortunately – Republicans are hell-bent on protecting that corporate tax loophole – and have pledged to filibuster the Senate bill.
Instead – Republicans are pushing their own legislation that passed out of the House two weeks ago – which pays for student loan relief by cutting funding from preventative health programs in Obamacare. President Obama has promised to veto the Republican bill – since it stops women and children from receiving the cancer screening and vaccinations they need to stay healthy.
Once again – Republicans are doing whatever they can to protect their corporate overlords – no matter the damage they may cause to students, mothers, and children.