Interest Rate Reduction Act
Latest action · Apr 25, 2012 Introduced in the Senate. Read twice. Ordered Placed on Senate Legislative Calendar under General Orders. Calendar No. 370.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedApr 25, 2012
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Interest Rate Reduction Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to make the 3.4% interest rate on Direct Stafford loans first disbursed to undergraduate students between July 1, 2011, and July 1, 2012, applicable to Direct Stafford loans first disbursed to undergraduate students between July 1, 2011, and July 1, 2013.
Amends the Patient Protection and Affordable Care Act to repeal provisions establishing and appropriating funds to the Prevention and Public Health Fund (a Fund to provide for expanded and sustained national investment in prevention and public health programs to improve health and help restrain the rate of growth in private and public sector health care costs). Rescinds any unobligated balances appropriated to such Fund.
Cosponsors 21
Members who signed on, in the order they did. Signatures ran from Apr 25, 2012 to May 9, 2012; 13 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-IN | Daniel Coats | Original | Apr 25, 2012 |
| R-OK | James M. Inhofe | Original | Apr 25, 2012 |
| R-WY | John Barrasso | Original | Apr 25, 2012 |
| R-TX | John Cornyn | Original | Apr 25, 2012 |
| R-ND | John Hoeven | Original | Apr 25, 2012 |
| R-GA | Johnny Isakson | Original | Apr 25, 2012 |
| R-AZ | Jon Kyl | Original | Apr 25, 2012 |
| R-TX | Kay Bailey Hutchison | Original | Apr 25, 2012 |
| R-WY | Michael B. Enzi | Original | Apr 25, 2012 |
| R-NE | Mike Johanns | Original | Apr 25, 2012 |
| R-KY | Mitch McConnell | Original | Apr 25, 2012 |
| R-MS | Roger F. Wicker | Original | Apr 25, 2012 |
| R-MO | Roy Blunt | Original | Apr 25, 2012 |
| R-NV | Dean Heller | Apr 26, 2012 | |
| R-SD | John Thune | Apr 26, 2012 | |
| R-FL | Marco Rubio | Apr 26, 2012 | |
| R-OH | Rob Portman | Apr 26, 2012 | |
| R-KS | Pat Roberts | May 8, 2012 | |
| R-GA | Saxby Chambliss | May 8, 2012 | |
| R-MS | Thad Cochran | May 8, 2012 | |
| R-NH | Kelly Ayotte | May 9, 2012 |
Actions 3
Everything that happened, newest first.
- Apr 25, 2012Introduced in Senate
- Apr 25, 2012Sponsor introductory remarks on measure. (CR S2733-2734)
- Apr 25, 2012Introduced in the Senate. Read twice. Ordered Placed on Senate Legislative Calendar under General Orders. Calendar No. 370.
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| Senate | Debate and remarks S2675, S2733, S2742 | Jack Reed D-RI, John Barrasso R-WY, Lamar Alexander R-TN | Apr 25, 2012 |
Related bills 8
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 1217 | To repeal the Prevention and Public Health Fund. | Related bill | Apr 14, 2011 |
| S 2051 | A bill to amend the Higher Education Act of 1965 to extend the reduced interest rate for Federal Direct Stafford Loans. | Related bill | Jan 31, 2012 |
| S 2343 | Stop the Student Loan Interest Rate Hike Act of 2012 | Related bill | May 24, 2012 |
| S 2834 | Subsidized Stafford Loan Reduced Interest Rate Extension Act of 2012 | Related bill | May 7, 2012 |
| HR 3826 | To amend the Higher Education Act of 1965 to extend the reduced interest rate for Federal Direct Stafford Loans. | Related bill | Mar 29, 2012 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to extend student loan interest rates for undergraduate Federal Direct Stafford Loans.
- Short Titles as Introduced
- Interest Rate Reduction Act
Subjects
Assigned by the Library of Congress. Policy area: Education.
Text 1
Each version as it was printed, newest first.
- Apr 25, 2012Placed on Calendar Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
