The senate has finally come to an agreement that we really do need to freeze current student loan interest rates and renew the transportation bill, and there's a deal in place to do that. The only problem now is it has to pass the House.
Senate leaders say they have a deal on student loan legislation, pending approval by House Republicans, who have unexpectedly balked at Senate deals before.
Senate Majority Leader Harry Reid (D-Nev.) told reporters Tuesday there is an agreement on student loans and now the question is what type of legislative vehicle to use to pass it through Congress.
One option is to attach it to a two-year transportation authorization bill, which is nearing completion in Senate-House conference. A senior GOP aide said “odds and ends” remain to be resolved.
If House Republicans do not approve the extension of student loan interest rates or the transportation bill, both will expire in four days.
As many as 3 million jobs depend on the transportation funding bill. But, you know, the president said a thing about the Boston Red Sox so we better cover that instead of the hostage situation in congress.