White House Threatens To Veto Student Loan Bill

By: Associated Press Email
By: Associated Press Email


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April 27, 2012

The White House has threatened to veto a Republican bill keeping federal student loan rates from rising this summer.

A White House statement blamed the way the legislation would pay
its $5.9 billion costs: by cutting a preventive health fund created
under President Barack Obama's health care overhaul law of 2010.

The White House called those health cuts politically motivated
and not a serious response to the problems students face.

The veto threat was issued as the GOP-run House began debating
the legislation.

Even if it passes as expected, the measure seems certain to go
nowhere in the Democrat-controlled Senate. Democrats want to pay
for the measure by boosting payroll taxes paid by high-earning
owners of some private firms.

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