Republicans just killed a bill that would have allowed students to refinance their loans at lower interest rates because rich people would have to pay for part of it.
Sen. Elizabeth Warren’s (D-Mass.) Bank on Students Emergency Loan Refinancing Act didn’t even get past a procedural vote, failing 56-38. Warren said the bill was designed to ease the debts of 40 million Americans who collectively hold nearly $1.3 trillion in loans, at a stunning $30,000 per borrower.
Senate Republicans objected to the inclusion of the so-called Buffett Rule to pay for it, which would have raised income tax rates on rich people who obtain most of their income from investments. Raising taxes is a non-starter for the GOP in both the House and Senate. Just three Republicans signed on with the bill.
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Well color me surprised
Republican rhetoric involved cutting spending in domestic welfare bc they don’t want to leave our nations kids and grand kids in debt. In all honesty they want themselves, their kids and grand kids to get by with low ass taxes, tax loopholes, and corporate welfare. We, the nation’s kids and grand kids can be as indebted as possible bc we don’t matter. Those of us who benefit from social programs don’t matter. Those of us who would be helped by this bill don’t matter. It is clear that when republicans articulate the excuse of “not wanting to indebt our future generations” they only mean their own families who live wealthily already. Fuck them. Vote their fucking asses out.
(Source: micdotcom, via necrophilofthefuture)