Skip to content

News and updates

Congress Back for 4-Week Summer Session

Democrats and Republicans are returning to the Capitol today after a weeklong break to celebrate the Fourth of July. But they appear to be more focused on the midterm elections rather than on moving legislation. Hopes have dimmed that Congress will get much done this year since they only have 29 legislative days left in 2014, and the majority of that time will be in the next four weeks.

It is possible, however, that they may find the political will to get a few things done between now and the August recess. Some prospects include veterans healthcare (in light of the recent VA scandals), funding for highway and bridge projects, and maybe a couple of FY 2015 appropriations bills.

House Republicans will use July to continue moving spending bills through the committee process and onto the floor, though it remains unclear if they’ll succeed in advancing all 12 appropriations bills before the end of the fiscal year on September 30th. The House will continue to move forward this week, with the chamber scheduled to consider its FY 2015 Energy-Water appropriations bill as early as Wednesday. Passage of this sixth appropriations measure would put the House halfway to completion of all 12 annual bills. The Senate, however, has yet to pass any of its spending bills and chances are slim that they will complete any before the August recess.

December’s bipartisan budget deal between Senator Patty Murray (D-WA) and Representative Paul Ryan (R-WI) has established a top-line figure that many think will grease the process, even as some members on the far left and far right are pushing back. Congress has until October 1st to act to prevent another shutdown, and the debate over appropriations will extend beyond the August recess and likely push up against that deadline. If the sides can’t agree on individual spending bills, they’ll likely pursue a shorter-term stopgap measure – a so-called continuing resolution – to take them at least into the lame-duck session after the November elections.

Student Loan Interest Rates Rise

Annual student loan interest rates increase tomorrow, July 1st. This represents the first full year loan rates will be tied to the 10-year Treasury note under the deal struck by Congress last summer. Rates will rise from 3.86 to 4.66 percent for undergraduate Stafford loans, 5.41 to 6.21 percent for graduate Stafford loans and 6.41 to 7.21 percent for parent and graduate PLUS Loans. The maximum Pell Grant will also increase tomorrow by $85 to $5,730. The Institute for College Access and Success offers a helpful fact sheet breaking down the changes.

The Week Ahead

Both the House and Senate are in recess for the 4th of July. The Senate will return July 7th and the House will return July 8th.

House Ed and Workforce Introduce Multiple HEA-focused Bills

Today, the House Education and Workforce introduced several bills to reauthorize the HEA. Earlier this year, the House announced it would take a piecemeal approach to reauthorization rather than a single, large bill.

The committee reiterated this strategy and outlined a number of principles that will guide its HEA reauthorization process in its white paper released earlier this week. House priorities include: simplifying and improving student aid and empowering students and families to make informed decisions. The legislation introduced today includes:

  • Simplifying the Application for Student Aid Act. Introduced by Reps. Larry Bucshon (R-IN), Mike Kelly (R-PA), John Tierney (D-MA), Tim Bishop (D-NY), Jared Polis (D-CO), and Ed Royce (R-CA), H.R. 4982 will reform the federal student aid process to help students make timely financial decisions about their education. To learn more about the legislation, click here.
  • Strengthening Transparency in Higher Education Act. Introduced by Higher Education and Workforce Training Subcommittee Chairwoman Virginia Foxx (R-NC) and Rep. Luke Messer (R-IN), H.R. 4983 will help students gain access to the facts they need to make an informed decision about their education. To learn more about the legislation, click here.
  • Empowering Students through Enhanced Financial Counseling Act. Introduced by Reps. Brett Guthrie (R-KY) and Richard Hudson (R-NC), H.R. 4984 will promote financial literacy through enhanced counseling for all recipients of federal financial aid. To learn more about the legislation, click here.