Reid Remarks On The Farm Bill And On Keeping Student Loan Rates Low

Statement

Nevada Senator Harry Reid spoke on the Senate floor today regarding the farm bill and the importance of keeping student loan rates low. Below are his remarks as prepared for delivery:

This afternoon, the United States Senate will pay its final respects to a friend and a respected colleague, Senator Frank Lautenberg. Frank will lie in repose in the Senate chamber where he spent three decades of his life. Senator Lautenberg was one of the most effective and productive Senators ever to serve in this body. And his leadership, as well as his laughter and his kindness, will be missed.

Shortly the Senate will consider whether to end debate on the agriculture jobs bill. I commend Chairman Stabenow and Ranking Member Cochran on their excellent work managing this bill. Regrettably, our two sides have been unable to reach an agreement to consider a finite number of amendments to this measure. But I am optimistic that we will advance this measure today and that next week the farm bill will pass on a strong, bipartisan vote in the Senate, as it did last year.

Unfortunately, last year the House of Representatives failed to take up the Senate's bipartisan farm bill. I hope this year Republican leadership will allow a vote in the House on the Senate's bipartisan legislation, which will create jobs, cut taxpayer subsidies and reduce the deficit by $23 billion.

America's farms and ranches are the most productive in the world. But to keep America's farms and America's economy strong, Congress must pass a strong farm bill and do it quickly.

To ensure this nation's continued economic recovery -- and our long-term success -- it is also crucial that America invest in an educated workforce. In this country, a college education is the surest path to a better life. But higher education has never been more expensive -- or further out of reach -- for middle-class families. So it's crucial that Congress act before July 1 to keep student loan rates low for 7 million college students who can't afford to pile on even more debt.

Democrats have a common-sense plan to prevent loan rates from doubling for two years without adding to the deficit. We'll consider that legislation this morning. Republicans' alternative proposal, by contrast, would be worse than doing nothing at all. It would be worse than letting rates double. And it would saddle students with even more debt than they have today -- a serious blow considering Americans already have more than $1 trillion in student loan debt.

Keeping college affordable is the best investments we can make in our economy. Congress should be removing the obstacles that keep young people from getting an education, not putting more barriers in their way. I hope my Republican colleagues will work with us to invest in America's future instead of once again sticking it to students.

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