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Public Statements

Interest Rate Reduction Act

Floor Speech

By:
Date:
Location: Washington, DC

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Ms. VELÁZQUEZ. Mr. Speaker, I rise in opposition to this legislation, which would deprive women in need of vital health services. All of us--on both sides of the aisle--recognize the need to prevent student loan interest rates from doubling to 6.8 percent. But this bill tackles this problem in exactly the wrong way--depriving women of preventative care aimed at stopping cervical cancer and stopping low income children from receiving life saving vaccinations.

For the working families of New York, this legislation robs them of access to quality health care. With this bill, we are saying that for a young person from a working family to afford college, his or her mother must also forego vital medical care.

Preventing a rise in student loan rates is critical for our young people. With millions of students graduating into a difficult job market now is the time for serious solutions that keep these loans affordable--not the time to use this problem as a political football.

The President has said this bill is dead on arrival, so why are we wasting time debating it? We can and must find a better solution that keeps these rates low without harming working families.

Let us reject this bill and craft legislation that has a chance of being signed into law.

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