June 29, 2012
Congress ended months of partisan bickering on Friday by passing and sending to President Barack Obama a comprehensive extension of highway and infrastructure projects, along with a one-year extension of low student loan rates that were set to double.
The House voted 373 to 52 to approve a $120 billion, 27-month bill to fund highway projects. Attached to that bill was the student loan extension, which prevented rates from doubling from 3.4 percent to 6.8 percent on July 1.
The Senate approved the package shortly thereafter in a 74-19 vote. The legislation now heads to the White House for the president’s signature.