VIDEO RELEASE: Kline Lends Support to Interest Rate Reduction Act
WASHINGTON, D.C. | April 27, 2012 -
U.S. House Committee on Education and the Workforce Chairman John Kline (R-MN) today offered his support for the Interest Rate Reduction Act (H.R. 4682), legislation introduced by Rep. Judy Biggert (R-IL) that will roll back wasteful ObamaCare spending to pay for a one year extension of the current interest rate on subsidized Stafford Loans made to undergraduate students. The House of Representatives approved H.R. 4682 with bipartisan support in a vote of 215 to 195.
Upon passage, Chairman Kline stated, “The Interest Rate Reduction Act is not a perfect solution, but it will allow us an opportunity to continue working toward a long term solution on student loan interest rates, one based on the free market instead of the whims of politicians in an election year.”
Click below to watch Chairman Kline’s floor remarks on the legislation: