The White House is threatening to veto the Republican version of a bill to stop a steep increase in student loan interest rates. Both parties want to precent the rates from doubling in July, but propose vastly different ways of paying for it.
From the Office of Management and Budget:
The Administration strongly supports serious, bipartisan efforts to prevent interest rates from doubling for over 7 million college students in the coming year. …
Unfortunately, rather than finding common ground on a way to pay for this critical policy, H.R. 4628 includes an attempt to repeal the Prevention and Public Health Fund, created to help prevent disease, detect it early, and manage conditions before they become severe. Women, in particular, will benefit from this Prevention Fund, which would provide for hundreds of thousands of screenings for breast and cervical cancer. This is a politically-motivated proposal and not the serious response that the problem facing America’s college students deserves. If the President is presented with H.R. 4628, his senior advisors would recommend that he veto the bill.
