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Sen. Sherrod Brown looking for bi-partisan compromise on student loan hike
Interest rates could double July 1

Jasen Sokol
Sen. Sherrod Brown says both sides of the aisle should come together to help college students
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Ohio Sen. Sherrod Brown says he will continue to work toward extending low interest rates on student loans.

Tuesday, Senate Republicans filibustered a proposal that would have prevented the interest rate on student loans to double July 1.

The sticking point between Democrats and Republicans is how to pay for the extension.

Brown says the original interest rate freeze was a bi-partisan agreement signed by former President George W. Bush, but this Congress is much less cooperative than five years ago.

Sen. Brown says Republicans are appealing to wealthy Americans

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“This is just absurd because Republicans don’t want to, or are unwilling to close a tax loophole on upper-income tax payers. I mean, that’s really what it’s always about. They always want to protect the wealthiest people in this country. This time it’s instead of college students.”

Democrats want to pay for the extension by closing a loophole that allows employers to not pay Medicare tax on income of more than $250,000. Republicans maintain the best way to extend the lower rate is to make cuts to President Obama’s healthcare bill.

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