Just in Case You Didn’t Notice …Posted: June 29, 2012
Congress finally renewed highway funds and extended the lower student loan rate. This news comes via the HILL. This should save a few jobs and fill a few potholes. It also renews my Flood Insurance during the hurricane season!!!
Congress on Friday approved legislation that will extend federal highway programs through 2014, a low interest rate on student loans for one year, and the National Flood Insurance Program (NFIP) for five years.
Leaders in the House and Senate negotiated the giant package, leaving no doubt that it would have enough support to pass. The bill will likely be the last major piece of legislation approved by Congress until after the November elections.
The House voted 373-52 in favor of the bill, which was supported by every voting Democrat, while 52 Republicans opposed it. In the Senate, the tally was 74-19, with 23 Republicans joining every Democrat in voting for the measure. Sen. Olympia Snowe (R-Maine) voted present, while Sen. Daniel Inouye (D-Hawaii) missed the vote.
White House spokesman Jay Carney said President Obama looks forward to signing the bill.
Congress faced a weekend deadline for extending the highway and student loan provisions. The rates for federally backed student loans were set to double from 3.4 percent to 6.8 percent, and transportation funding was due to expire.
See? They can work together ever so often.