They already got their votes in the last election. They’ll clearly wait until its closer to the next election before Reid will allow it, as he attempts to take full responsibility for it as he has done with several other bills in the past.
VIA Washington Post :
Efforts to keep interest rates on new student loans from doubling appeared to be falling apart Wednesday as the Democratic leader of the Senate declared a bipartisan proposal unacceptable.
With just days to spare before a July 1 deadline sends subsidized Stafford loan rates up from 3.4 percent to 6.8 percent, a group of senators from both parties announced a plan that would link interest rates on new federally backed loans to the financial markets. The deal would avert a costly rate hike for now but could spell higher rates in coming years.
The proposal seemed to stall even before it had a chance to be considered.
The chamber’s top Democrat, Sen. Harry Reid of Nevada, said it could never pass. The Democratic chairman of the education panel said he couldn’t back a plan that doesn’t include stronger protections for students and parents.
Undeterred, Sen. Joe Manchin, D-W.Va., said Wednesday he would introduce the legislation on Thursday, along with Republican collaborators Sen. Tom Coburn of Oklahoma, Sen. Lamar Alexander of Tennessee and Sen. Richard Burr of North Carolina. Sen. Angus King of Maine, an independent, also signed on to the plan.
Aides to Manchin said he expected to have Democrats on board, as well.
“This deal shows the American people that bipartisanship and common sense are alive in Washington,” Manchin said.