When she was in Seattle earlier this month, Senator Elizabeth Warren was perhaps most passionate about her bill to refinance student loans. (You can read a good basic description of the bill at the Boston Globe, and Warren's office explains the bill more in-depth on her site.) That bill was blocked by Republicans this morning, Jason Easley at Politicus says:
Senate Republicans have blocked Sen. Elizabeth Warren’s student loan refinancing bill that would have helped 40 million borrowers because it would have raised taxes on millionaires.
Warren’s student loan refinancing bill, the Bank on Students Emergency Loan Refinancing Act, failed by a vote of 58-38. (Harry Reid changed his vote to a no for procedural reasons.) Sens. Susan Collins (R-ME), Bob Corker (R-TN) and Lisa Murkowski (R-AK) were the only Republicans to vote for the bill.
Student loans are interfering with America's economy in a big way; there's a whole generation of Americans who can't buy houses or save any money because they're paying off the exorbitant interest on their loans. The executive order that President Obama signed on Monday offers a little relief, but it's not enough. Serious student loan reform is needed in this country. But because some wealthy few are raking in big profits from these loans, Republicans aren't interested in having that conversation.