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Murkowski: Student Loan Bill “Solves One Problem by Making Another Worse”

WASHINGTON, D.C. – Senator Lisa Murkowski today voted against raising taxes on small businesses to pay for maintaining the current student loan interest rate for one year when S.2343, the Student Loan Bill came up for consideration on the Senate floor – while expressing hope that a more responsible solution would be agreed upon in the future. Senator Murkowski had the following statement after her vote:

“College graduates in Alaska and across the country today face two obstacles: rising college costs and an incredibly tight job market.  Everyone agrees that in these difficult economic times, we need to keep the interest rates on federal student loans low, but we disagree on how we pay for this fix.

“Today’s bill tries to solve one problem by making another worse. Raising taxes on prospective employers will only decrease the chances that they’ll be able to add jobs and hire young college graduates.

“Keeping loan rates low in the current fiscal environment shouldn’t dim anyone’s job prospects. There is another option out there that would pay for this by taking funds from the President’s health care bill while its fate remains in doubt – but that hasn’t been allowed a vote yet. I remain hopeful that between today and July 1st, a commonsense bipartisan agreement will be found that doesn’t squeeze our vulnerable 20-something workforce more than they presently are.”

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