It is a delight to join Senator Stabenow on the floor to talk about this critical issue that is a growing crisis here at home in America and threatens Americans' economic strength and competitiveness. As you have heard, today there is a debt crisis in America. Student loan debt is more than $1.2 trillion, and that is holding back an entire generation and creating a drag on our economy. It is a crisis that demands action from Washington. Once again, Congress is failing the American people by refusing to work together to confront it. In June the Senate took a vote on the Bank on Students Emergency Loan Refinancing Act, which I am proud to cosponsor. While it received majority support in this body, a minority of Republicans obstructed the bill and prevented it from moving forward. The choice was clear, and opponents addressing the student debt crisis chose to protect tax loopholes for millionaires and billionaires instead of helping give students a fair shot at getting ahead and providing relief to middle-class families struggling with student loan debt. I believe every student in America deserves a fair shot at an affordable education, and I believe college education should be a path to the middle class and not a path to indebtedness. Nearly 40 million students and graduates in America have outstanding student loans. The total amount of student debt in the United States has tripled in the past decade.…
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