Senate Democrats Block Bipartisan Student Loan Reform

Statement

U.S. Senate Republican Leader Mitch McConnell released the following statement regarding the Democrat-led Senate blocking a bipartisan solution to ensure that student loan rates don't double on July 1st:

"Despite the introduction of a bipartisan solution, the Democrat Senate leadership continues to block student loan reform by attacking the President's plan. As a result of their obstruction, the Democrat-led Senate will leave town and allow interest rates on some new student loans to increase on Monday. The Republican House has already passed legislation and Senate Republicans, along with the President, are ready to pass bipartisan student loan reform that will ensure that student loan rates don't double on July 1st.

"Sadly, Senate Democrats continue to block reform and insist on kicking the can down the road with a tax hike attached, while attacking the President's reform plan. It is my hope that the President will call members of his party and encourage them to allow bipartisan student loan reform to move forward when the Senate returns in July."

Background: The President's plan has deficit reduction, has no cap or tax hikes. Sen. Reid announced opposition to the bipartisan plan because it has deficit reduction, has no cap or tax hikes.

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