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Election News

The White Home stated Friday that President Barack Obama would veto a Republican evaluate passed by the House to lengthen decrease curiosity charges on federal pupil loans because it takes cash from a well being care fund that positive aspects women.

A White Residence declaration explained Obama's senior advisers would recommend a veto if the Residence measure, which handed 215-195 on a mostly party-line vote, had been to win Senate approval and get to the president's desk.

"Women, in particular, will benefit from this avoidance fund, which would provide for hundreds of hundreds of screenings for breast and cervical cancer," the White Property assertion said. "This is a politically inspired proposal and not the severe response that the difficulty struggling with America's university college students deserves. If the president is offered with H.R. 4628, his senior advisers would suggest that he veto the bill."

Obama favors extending the current decrease curiosity premiums on college student loans but would seek out a distinct way to spend the $6 billion cost.

A proposal by Senate Democrats would spend for the evaluate by ending some tax loopholes for corporations, a move opposed by Republicans. The House prepare would as an alternative consider the funds from the wellness care fund, which is component of the 2010 Cost-effective Care Act detested by Republicans.

House Speaker John Boehner, R-Ohio, proposed the GOP's pupil financial loan evaluate this week in the confront of a high-profile marketing campaign by Obama that rallied college students -- a essential part of the crucial youth vote in November -- to stress Congress to extend the reduced pupil mortgage rates.
In addition, specific Republican presidential nominee Mitt Romney pinned Boehner and congressional Republicans in a corner by coming out in favor of the decrease charges this week.

House Republicans formerly backed a price range strategy that named for letting the reduce curiosity charges on pupil loans expire on July 1.

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

"People want to politicize this since it is an election year, but my God, do we have to combat about everything?" Boehner said, at instances pounding the podium. "And no, now we are heading to have a fight more than women's health. Give me a break! This is the most current plank in the so-called war on ladies completely produced by colleagues across the aisle for political gain."

Calling for a assessment of "the facts," Boehner explained Obama's proposed price range called for reducing the identical wellbeing care fund, which he labeled a "slush fund."

"You may possibly have by now forgotten that several months ago, you all voted to slice $4 billion out of this slush fund to pay out for the payroll credit score bill" that extended a payroll tax cut, Boehner continued, shouting, "So, to accuse us of wanting to gut women's wellbeing is totally not true."

On Thursday, Senate Greater Part Leader Harry Reid, D-Nevada, took exception to Republicans characterizing the wellbeing treatment fund as some thing inappropriate or sinister.

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

Asked about the payroll tax vote at a Friday news conference, House Democratic leader Nancy Pelosi, D-California, mentioned Democrats weren't content about using dollars from the fund for the payroll tax evaluate at the time and now want to make sure that the rest of the dollars stays in the fund.

On the Home floor, Pelosi explained Home Republicans ended up forced by Obama's publicizing of the situation to reverse their preceding opposition to keeping the interest premiums on federal university student loans at the existing 3.4% as a substitute of allowing them double to 6.8% on July 1.

She mentioned the Home finances proposal by Rep. Paul Ryan, R-Wisconsin, called for enabling the interest fee to ambigu in July, and that Property Republicans had backed the prepare as recently as final week.

The new Property measure would get rid of the Prevention and Public Wellness Fund, Pelosi said, accusing Republicans of protecting tax subsidies for the oil industry whilst seeking "mom and kids to pay the price."

On Wednesday, Obama took on Boehner by name, telling students at the University of Iowa a spokesman in the speaker's workplace considered the president's emphasis on student loans is an hard work to "distract men and women from the economy."

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

A few hrs later, Boehner announced a Friday vote on the Property measure and hit again at the president saying, "This week the president is campaigning and hoping to invent a combat exactly where there is none and never ever has been on this situation of university 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 curiosity rate for a single year and pay for it by closing a loophole on "S corporations," a tax structure Democrats say can be utilised to avoid paying out Social Security and Medicare taxes.

The Republican proposal in Home also extends the latest price for one year, but it handles the value by dipping into the wellness treatment fund supposed to advertise wellness, stop illness and safeguard against manifeste wellness emergencies.
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