HartleWatters405

Election News

The White Residence explained Friday that President Barack Obama would veto a Republican measure handed by the Residence to lengthen reduced interest charges on federal college student loans because it takes cash from a wellness care fund that rewards women.

A White Home assertion said Obama's senior advisers would advise a veto if the Residence measure, which passed 215-195 on a largely party-line vote, were to acquire Senate approval and get to the president's desk.

"Women, in particular, will reward from this avoidance fund, which would offer for hundreds of 1000's of screenings for breast and cervical cancer," the White Residence declaration said. "This is a politically determined proposal and not the critical response that the issue facing America's university pupils deserves. If the president is introduced with H.R. 4628, his senior advisers would advise that he veto the bill."

Obama favors extending the latest lower interest rates on pupil loans but would seek out a various way to pay out the $6 billion cost.

A proposal by Senate Democrats would pay out for the evaluate by ending some tax loopholes for corporations, a move opposed by Republicans. The Home plan would as a substitute consider the funds from the health care fund, which is aspect of the 2010 Affordable Care Act detested by Republicans.

House Speaker John Boehner, R-Ohio, proposed the GOP's pupil loan evaluate this week in the face of a high-profile campaign by Obama that rallied university college students -- a essential element of the essential youth vote in November -- to stress Congress to lengthen the lower pupil financial loan rates. In addition, certain Republican presidential nominee Mitt Romney pinned Boehner and congressional Republicans in a corner by coming out in favor of the lower rates this week.

House Republicans previously backed a price range plan that named for allowing the reduce curiosity premiums on university student loans expire on July 1.

In an psychological ground speech Friday, Boehner labeled the issue a pretend fight mounted by Democrats for political advantage.

"People want to politicize this because it is an election year, but my God, do we have to battle about everything?" Boehner said, at occasions pounding the podium. "And no, now we are going to have a battle in excess of women's health. Give me a break! This is the newest plank in the so-called war on women fully produced by colleagues across the aisle for political gain."

Calling for a critique of "the facts," Boehner stated Obama's proposed spending budget named for reducing the exact same wellness care fund, which he labeled a "slush fund."

"You could have previously forgotten that many months ago, you all voted to cut $4 billion out of this slush fund to shell out for the payroll credit bill" that extended a payroll tax cut, Boehner continued, shouting, "So, to accuse us of wanting to gut women's well being is totally not true."

On Thursday, Senate Bulk Leader Harry Reid, D-Nevada, took exception to Republicans characterizing the wellbeing care fund as a thing inappropriate or sinister.

"You contact preventive treatment a 'slush fund'? I mean, they really should be ashamed of themselves," Reid said. "This is saving people's lives, conserving the region huge quantities of money."

Asked about the payroll tax vote at a Friday news conference, Residence Democratic leader Nancy Pelosi, D-California, stated Democrats were not joyful about taking money from the fund for the payroll tax evaluate at the time and now want to make certain that the rest of the cash stays in the fund.

On the House floor, Pelosi mentioned Residence Republicans have been forced by Obama's publicizing of the problem to reverse their preceding opposition to keeping the curiosity premiums on federal college student loans at the present 3.4% as a substitute of allowing them ambigu to 6.8% on July 1.

She said the Property budget proposal by Rep. Paul Ryan, R-Wisconsin, named for enabling the curiosity rate to double in July, and that Residence Republicans had backed the plan as not too long ago as final week.

The new Home measure would eliminate the Avoidance and Public Health Fund, Pelosi said, accusing Republicans of defending tax subsidies for the oil business whilst seeking "mom and children to spend the price."

On Wednesday, Obama took on Boehner by name, telling pupils at the University of Iowa a spokesman in the speaker's business office thought the president's emphasis on university student loans is an work to "distract folks from the economy."

The president instructed a rowdy audience, "Now assume about that for a second, since these guys never get it." He advised the cheering crowd, "If you do well, the financial system does well. This is about the economy. What economic system are they conversing about? You are the economy."

A few several hours later, Boehner introduced a Friday vote on the Residence measure and hit back again at the president saying, "This week the president is campaigning and hoping to invent a battle exactly where there is none and never has been on this issue of student loans."

On Tuesday night, Democratic Sens. Jack Reed of Rhode Island, Tom Harkin of Iowa and Sherrod Brown of Ohio launched the Democratic proposal. It would freeze the existing interest charge for a single year and spend for it by closing a loophole on "S corporations," a tax structure Democrats say can be employed to prevent spending Social Protection and Medicare taxes.

The Republican proposal in House also extends the present price for 1 year, but it handles the value by dipping into the well being care fund supposed to market wellness, prevent ailment and shield versus manifeste wellness emergencies. drop by for more Romney Election