Today, Congresswoman Gwen Moore (WI-4) voted in favor of the Transportation Conference Report. This legislation will keep highway programs running through September 2014, keep student loan rates low for another year and reauthorize the flood insurance program for five years in order to avoid lapses in the programs. Highway programs and reduced student loan rates were set to expire on June 30 and the National Flood Insurance Program was set to expire July 31.
"I am so pleased that this Congress was able to work together to hammer out this bipartisan deal that will benefit the American people and help move this country forward.
"I am particularly pleased that we were able to keep student loan rates at their current rate, saving 7.4 million college students from additional debt in these tough economic times. I cannot think of a better gift to give the millions of college students throughout this country as we head into the Independence Day holiday week than relief from the doubling of their loan rates. In Wisconsin alone, over 163,000 students will save an estimated $968.00 over the life of their loans.
"Additionally, this bill will continue critical funding for much needed highway projects and reauthorize the National Flood Insurance Program.
"It is my hope that this Congress can put aside the partisan bickering, and continue to work in the best interests of the American people."