On Friday, the House of Representatives voted 215-195 to extend low-interest rates on student loans. The interest rates are currently scheduled to double on July 1.
Rep. Blake Farenthold (R-Texas) voted for the plan and applauded the effort to pay for the rate extension by tapping a program within the president’s health-care plan for almost six billion dollars.
“The CBO scored it out … and so we went after a slush fund in the president’s health-care law and he’s not too happy about any sort of raid on his signature law.”
Democrats say the program provides vital preventive care while Farenthold calls it a political “slush fund.”
Farenthold also responds to the argument from 30 GOP House members that Congress should not be artificially manipulating the interest rate on loans and that the market should run its course.
The congressman also shares his thoughts with us on President Obama making this a major campaign issue and how he’s approaching a tough primary and fierce general election campaign in one of the most competitive districts in the nation.