S.2343 - Stop the Student Loan Interest Rate Hike Act of2012

A bill to amend the Higher Education Act of 1965 to extend the reduced interest rate for Federal Direct Stafford Loans, and for other purposes. view all titles (2)

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All Bill Titles

  • Short: Stop the Student Loan Interest Rate Hike Act of2012 as introduced.
  • Official: A bill to amend the Higher Education Act of 1965 to extend the reduced interest rate for Federal Direct Stafford Loans, and for other purposes. as introduced.

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  • Today: 4
  • Past Seven Days: 42
  • All-Time: 3,404
 
Introduced
 
Senate
Passes
 
House
Passes
 
President
Signs
 

 
04/23/12
 
 
 
 
 
 
 

Official Bill Text Comment on about 10 Pages

Sponsor

Senator

Harry Reid

D-NV

View Co-Sponsors (22)

Committees

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Latest Vote

Result: Bill Defeated - May 24, 2012

Roll call number 113 in the Senate

Question: On Passage of the Bill S. 2343

Required percentage of 'Aye' votes: 3/5 (60%)
Percentage of 'aye' votes: 51%
 

Official Summary

4/24/2012--Introduced.Stop the Student Loan Interest Rate Hike Act of 2012 - 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, ap
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Official Summary

4/24/2012--Introduced.Stop the Student Loan Interest Rate Hike Act of 2012 - 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 Internal Revenue Code and title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to require certain shareholders of a subchapter S corporation engaged as a partner in a professional service business to include income or loss attributable to such business in their net earnings from self-employment for employment tax purposes. Restricts such tax treatment to shareholders whose modified adjusted gross income exceeds a specified amount that varies based on their tax filing status. Defines a "professional service business" as any trade or business providing services in the fields of health, law, lobbying, engineering, architecture, accounting, actuarial science, performing arts, consulting, athletics, investment advice or management, or brokerage services.

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Organizations Supporting S.2343

  • AFL-CIO
  • United States Student Association
  • Association of American Medical Colleges
  • National Education Association
  • National Action Network
  • CREDO Action
  • ...and 2 more. See all.

Organizations Opposing S.2343

  • National Federation of Independent Business
  • U. S. Chamber of Commerce
  • Air Conditioning Contractors of America
  • American Bankers Association
  • American Council of Engineering Companies
  • American Institute of Architects
  • ...and 32 more. See all.
See the money trail behind this bill for more info on how campaign contributions may be influencing senators' and representatives' votes.



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