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Student loan interest rates being debated in Congress

Posted: 05/09/12 08:04

Senators in Washington struggle today to keep the interest rates on college student loans from doubling, as Democrats and Republicans disagree on how to pay for it. Senator Johanns, a Republican, tells colleagues there's a great deal of agreement on the goal, and suggests politics has trumped policy. Johanns opposes a Democratic proposal to raise Social Security and Medicare payroll taxes on wealthy stock holders and some private corporations, saying it will stunt job growth. He favors the Republican alternative, which would do away with a preventive health fund created in the 2010 health care overhaul.

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