Senate Democrats Can't Compromise on Student Loan Legislation
While we might want to blame the GOP, Senate Democrats may be to blame for the failure to compromise on a bill to reduce the already increased student interest rates Wednesday.
During the vote yesterday, Democratic Sen. Joe Manchin of West Virginia and Independent Sen. Angus King of Maine voted with Republicans to filibuster the Democrats' plan. The bill, which failed by a vote of 51 to 49, would have renewed the 3.4 percent interest rate on Stafford Loans. The rate doubled to 6.8 percent on July 1 because the Senate failed to act.
Manchin and others voted to filibuster the bill because of a bipartisan option that would have tied interest rates to 10-year treasury bonds. The Democratic-controlled Senate's struggle to pass the bill reveals division within the party.
House Speaker John Boehner, a Republican, responded by saying, ""It’s long past time for President Obama to lead, address the divisions within his own party, and bring everyone together to enact a permanent solution for students and their families."
Some senators have taken to Twitter. Check out what they think below.