NEW: Doherty Opposed to Student Loan Rate Hike

NEW: Doherty Opposed to Student Loan Rate Hike

Republican Congressional candidate Brendan Doherty has become the latest local politician to call for an agreement that would prevent federal student loan interest rates from doubling in July.

“In yet another example of Congress’s inability to find credible, lasting solutions to serious issues facing American families, members of each party are pushing proposals that they know to be unacceptable to the other, setting up the latest in a series of politically motivated showdowns that foster public cynicism toward our elected officials,” Doherty said. “The threat of a sudden and dramatic increase in the interest rate on student loans poses real challenges for middle class Rhode Island families that rely on these loans to fund their children’s college educations. Those families should not have to hold their breath waiting for a last-minute resolution to another contrived political standoff to determine whether they will be able to afford to send a child to college next year. We saw similarly irresponsible approaches to addressing the debt ceiling, extending unemployment benefits and avoiding an increase in payroll taxes. Americans deserve better.

Doherty continued: “The United States is in desperate need of comprehensive tax reform, responsible spending cuts and real deficit reduction. It is critical that government address these concerns responsibly and there is no place for political grandstanding in this debate. Some Members of Congress, including David Cicilline, are pushing proposals that would add to our deficit, while others propose to offset the cost of maintaining lower interest rates by imposing spending cuts or tax increases, all of which they know to be unacceptable to members of the other Party. Proponents of doomed plans, both Democrats and Republicans, are doing a disservice to the American families they have been elected to serve. As Rhode Island’s Representative from the First District, I will demonstrate the leadership I have shown throughout my professional career, reject political gimmicks and instead seek out my like-minded leaders. I will work to build consensus and achieve lasting, common sense solutions to make a college education affordable for middle class families and to restore our economy and bring good quality jobs back to Rhode Island."

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