H.R.4628: Interest Rate Reduction Act

About This Bill

  • This bill was introduced in the 112th Congress
  • This bill is primarily about education
  • Introduced April 25, 2012
  • Latest Major Action May 8, 2012

Bill Summary

Interest Rate Reduction Act - 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 Patient Protection and Affordable Care Act to repeal provisions establishing...

(Source: Library of Congress)

What Lawmakers Are Saying About This Bill

There are 2 statements associated with H.R.4628.

Congressional Budget Office Estimate

The Congressional Budget Office has produced a cost estimate for H.R.4628.

Bill Actions

Date Description
Referred to the Committee on Education and the Workforce, and in addition to the Committees on Energy and Commerce, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to House Education and the Workforce
Referred to House Energy and Commerce
Referred to House Budget
Referred to the Subcommittee on Health.
Considered under the provisions of rule H. Res. 631.
Rule provides for consideration of H.R. 3523 with 1 hour of general debate. Motion to recommit with or without instructions allowed. Measure will be considered read. Specified amendments are in order. The rule waives all points of order against consideration of the bill. The rule makes in order as original text for purpose of amendment the amendment in the nature of a substitute consisting of the text of Rules Committee Print 112-20 and provides that it shall be considered as read. The rule waives all points of order against the amendment in the nature of a substitute. The rule makes in order only those amendments printed in the Rules Committee report. The rule further provides that it shall be in order at any time through the legislative day of April 27, 2012, for the Speaker to entertain motions that the House suspend the rules. The rule provides further for a closed rule for consideration of H.R. 4628. The rule provides one hour of general debate and one motion to recommit. Finally, the rule provides that the Committee on Appropriations may, at any time before 6 p.m. on Wednesday, May 2, 2012 recommit. Finally, the rule provides that the Committee on Appropriations may, at any time before 6 p.m. on Wednesday, May 2, 2012 file, privileged reports to accompany measures making appropriations for the fiscal year ending September 30, 2013.
DEBATE - The House proceeded with one hour of debate on H.R. 4628.
DEBATE - The House continued with debate on H.R. 4628.
The previous question was ordered pursuant to the rule.
POSTPONED PROCEEDINGS - Pursuant to clause 1(c) of rule XIX, the Chair announced that further proceedings on the bill H.R. 4628 were postponed.
Considered as unfinished business.
Mrs. Capps moved to recommit with instructions to Education and the Workforce and Energy and Commerce.
DEBATE - The House proceeded with 10 minutes of debate on the Capps motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to protect health insurance benefits for women and children by prohibiting the underlying bill from reducing coverage or raising costs for healthcare benefits offered by insurance companies, including benefits such as contraception, mammograms, cervical cancer screenings, childhood immunizations, and health screenings for newborns.
The previous question on the motion to recommit with instructions was ordered without objection.
On motion to recommit with instructions Failed by recorded vote: 178 - 231 (Roll no. 194).
On passage Passed by recorded vote: 215 - 195 (Roll no. 195).
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 393.
April 25, 2012

Introduced in the House by Judy Biggert (R-Ill.)

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