On the recordMay 9, 2012
earlier today, just a few minutes ago as I was presiding where the Senator from Minnesota is now sitting, I listened to my colleagues speak on this issue of interest rates on student loans. I was particularly interested in the speech of a colleague who came to the floor and said this bill that is designed to prevent interest rates from doubling is all political show. The concept of it being a political show is difficult for me to get my hands around. Quite frankly, the President didn't set July as the date student loans would double in cost. That date was set by legislation that was passed in the Senate and in the House and sent to the President. It is that date, just 2 months from now, that brings forth the urgency on this issue--Presidential campaign or no Presidential campaign. It is also important to recognize that this is not a debate at this moment about final adoption of a bill. It is about beginning the process of debating the bill. It is a motion to proceed. For those unfamiliar with Senate process, well, this is a motion that says this is an issue that, because of its urgency, should be on the floor now for us to work on, and everybody in this Chamber knows it cannot pass without 60 votes. As the debate unfolds, amendments are debated and hopefully a path is found that will produce the 60 votes necessary to send it on to the House and to the President's desk.…





