Tim Ryan: “There's not been a tax increase here. This is not where the President can say, I'm going to veto this bill because the…”

“There's not been a tax increase here. This is not where the President can say, I'm going to veto this bill because the Democrats increased taxes on someone. What we did is we shifted this money that was going to the banks and allowed them to charge students 6.8 percent. It was basically corporate welfare, and we're saying that that same amount of money that went to them is going to go to more students for cheaper loans, less interest rates, 3.4 percent instead of 6.8 percent, just a shift in the money, shift in priorities. So what the President's basically saying is I would rather have the banks make the profit than expand student loans to more kids and more parents. Now, that's just reading the facts. Ignore our rhetoric.”