House Votes to Stop Student Loan Rates from Doubling, Cut ObamaCare Slush Fund

House Votes to Stop Student Loan Rates from Doubling, Cut ObamaCare Slush Fund

WASHINGTON, DC (Apr 27)

House Speaker John Boehner (R-OH) released the following statement after the House approved the Interest Rate Reduction Act (H.R. 4628), legislation by Rep. Judy Biggert (R-IL) that would extend current student loan interest rates by cutting spending from an ObamaCare slush fund:

“Students and families are struggling in President Obama’s economy. Nearly half of college graduates are unemployed or underemployed, and laws like ObamaCare have only made it harder for small businesses to hire them. That’s why House Republicans voted to extend current student loan rates and to pay for it by eliminating an ObamaCare slush fund President Obama himself proposed cutting from his budget. It’s time for the president and Democrats in Congress to stop exploiting the challenges facing young Americans for political gain, and start working with Republicans to create a better environment for private-sector job growth.”

Speaker John Boehner, joined by Education & Workforce Committee Chairman John Kline (R-MN), left, and Republican Conference Chairman Jeb Hensarling (R-TX) announces the House will vote to extend the current interest rates on federal student loans, paid for by eliminating a slush fund in the president’s health care law -- the law that is one of the reasons American small businesses today are not hiring more recent college graduates. April 25, 2012. (Official Photo by Bryant Avondoglio)

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TEXT CREDIT: Speaker of the House John Boehner H-232 The Capitol Washington, DC 20515 P (202) 225-0600 F (202) 225-5117

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