Wednesday, March 31, 2010

Health reconciliation, higher education reform signed into law

Obama signs Health Care and Education Reconciliation Act in Virginia

Tuesday, President Obama finalized the contentious health care legislative process that had taken over a year to accomplish. Last week, Congress finalized reconciliation, a process that has been touted as eradicating several unpopular provisions of the original bill and improving upon others provisions that are aimed at assisting the middle class.

The bill also marks a major step in higher education reform. Targeting affordability, the President has highlighted that this legislation doubles Pell Grant funding and increases support for HBCUs. President Obama praised the new law, characterizing it as, ". . . one of the most significant investments in higher education since the G.I. Bill."

Tuesday's signing also eliminates private lending companies as the "middlemen" between students and government loans. "By cutting out the middleman," President Obama said, "we'll save American taxpayers $68 billion in the coming years . . . real savings that we'll reinvest to help improve the quality of higher education and make it more affordable."


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