Will County Democratic Central Committee - News

11

Jun

2014

Senate Republicans block student loan bill

Author: Editor

Senate Republicans on Wednesday blocked legislation aimed at letting people refinance their student loans at lower rates, a pre-ordained outcome that gave Democrats a fresh election-year talking point against the GOP.

The 56-38 vote fell short of the 60 that would have been needed to advance to debate on the measure by Sen. Elizabeth Warren, D-Mass. Her bill would have let millions of borrowers, some with years-old debt and interest rates topping 7 percent or more, refinance at today's lower rates.
The bill would have been paid for with the so-called Buffett Rule, which sets minimum tax rates for people making over $1 million.

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