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Obama promotes college debt refinancing bill

Obama, Democrats want to let students refinance college loans... at the expense of "millionaire tax break loopholes"

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WASHINGTON (AP) - President Barack Obama is using the college commencement season to get behind Senate Democratic legislation that would let college graduates with heavy debts refinance their loans.

The Senate is expected to debate the legislation next week, but it faces significant obstacles.

In his weekly radio and Internet address, Obama notes the program would be paid for by closing tax loopholes for millionaires. He says the choice facing lawmakers is whether to, quote, "protect young people from crushing debt or protect tax breaks for millionaires."

In the Republican weekly address, Rep. Jeff Miller of Florida, the chairman of the House Veterans' Affairs Committee, calls attention to recent findings of widespread problems with delayed or mishandled appointments at VA hospitals. He says Republicans intend to hold Obama accountable.


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