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Tuesday, May 8, 2012

GOP Blocks Senate Debate On Dem Student Loan Bill

By: THE ASSOCIATED PRESS

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.

The vote was largely symbolic because the measure had no chance of approval in the Republican-run House. It was also designed with November’s elections in mind because it could produce fodder for Democratic commercials against GOP senators.

Republicans want a vote on their own bill freezing interest rates and paid for by abolishing a health care fund.

Tuesday’s vote was 52-45 to debate the measure – eight votes short of the 60 needed.

Guests:

  • Kathleen Hunter, Bloomberg News Congress correspondent

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