S. 2343 (112th): Stop the Student Loan Interest Rate Hike Act of 2012

Introduced:
Apr 24, 2012 (112th Congress, 2011–2013)
Status:
Failed Senate
Sponsor
Harry Reid
Senior Senator from Nevada
Party
Democrat
Text
Read Text »
Last Updated
Apr 24, 2012
Length
12 pages
Related Bills
H.R. 5812 (Related)
Investing in Our Student’s Future Act

Referred to Committee
Last Action: May 17, 2012

S. 2834 (Related)
Subsidized Stafford Loan Reduced Interest Rate Extension Act of 2012

Referred to Committee
Last Action: May 07, 2012

 
Status

This bill failed in the Senate on May 24, 2012.

Progress
Introduced Apr 24, 2012
Reported by Committee Apr 24, 2012
Failed Cloture May 08, 2012
Failed Senate May 24, 2012
 
Full Title

A bill to amend the Higher Education Act of 1965 to extend the reduced interest rate for Federal Direct Stafford Loans, and for other purposes.

Summary

No summaries available.

Votes
May 08, 2012 12:01 p.m.
Cloture on the Motion to Proceed Rejected 52/45
May 24, 2012 4:02 p.m.
Bill Defeated 51/43

Cosponsors
22 cosponsors (21D, 1I) (show)
 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

S. stands for Senate bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


4/24/2012--Introduced.
Stop the Student Loan Interest Rate Hike Act of 2012 - 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 Internal Revenue Code and title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to require certain shareholders of a subchapter S corporation engaged as a partner in a professional service business to include income or loss attributable to such business in their net earnings from self-employment for employment tax purposes.
Restricts such tax treatment to shareholders whose modified adjusted gross income exceeds a specified amount that varies based on their tax filing status.
Defines a "professional service business" as any trade or business providing services in the fields of health, law, lobbying, engineering, architecture, accounting, actuarial science, performing arts, consulting, athletics, investment advice or management, or brokerage services.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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