Mr. Speaker, by direction of the Committee on Rules, I call up House Resolution 637 and ask for its immediate consideration. Mr. Speaker, for the purpose of debate only, I yield the customary 30 minutes to the gentleman from Florida (Mr.…
Mr. Speaker, by direction of the Committee on Rules, I call up House Resolution 637 and ask for its immediate consideration.
Mr. Speaker, for the purpose of debate only, I yield the customary 30 minutes to the gentleman from Florida (Mr. Lincoln Diaz- Balart). All time yielded during consideration of the rule is for debate only.
General Leave
Mr. Speaker, I ask unanimous consent that all Members have 5 legislative days within which to revise and extend their remarks and insert extraneous materials into the Record.
Mr. Speaker, I yield myself such time as I may consume.
(Ms. SUTTON asked and was given permission to revise and extend her remarks.)
Mr. Speaker, H. Res. 637 provides for consideration of the conference report to accompany H.R. 2669, the College Cost Reduction and Access Act. The rule waives all points of order against the conference report and its consideration and considers the conference report as read.
Mr. Speaker, I am honored to rise today in support of this rule and this much-needed underlying conference report, the College Cost Reduction Act, which will help give our students a real opportunity to go to college and give them the vital tools necessary to enter our workforce and build a positive future for themselves and our communities. And, Mr. Speaker, at the outset I want to thank Representative George Miller, the distinguished chairman of the Education and Labor Committee, along with Speaker Nancy Pelosi, whose commitment to our students, our families and our future in this country has brought us to this day when we are able to take this great step to put college education back within reach of so many hardworking families and students. The College Cost Reduction Act addresses one of the most pressing issues facing millions of families across this Nation: the question of how they will afford to send their children to college.
Educational opportunity is the backbone of our Nation and everything that makes it great. And while access to higher education is more critical than ever for younger generations, the cost is rapidly moving out of reach for many low- and middle-income families. Tuition at 4- year public colleges and universities has risen 41 percent after inflation since 2001. And the typical American student now graduates from college with a $17,500 debt. This problem has developed into nothing less than a crisis.
Sadly, due to the failure of past Congresses, many students have had their dreams shattered because they could not afford college tuition. Many hardworking parents have had their hearts broken because, despite their valiant efforts, they simply could not afford to pay tuition and meet other vital family needs. This problem has festered for too long, and I have long believed, Mr. Speaker, that those in government must work with the people they are called to serve and not against them.
And that is what this bill does. It is the single largest investment in higher education since the GI Bill. It's good for our families. It's good for our students. It's good for our country.
Financial barriers to higher education not only hurt students themselves by robbing them of the education and training necessary to make a productive and positive impact in our communities; it hurts us all. Investing in our students will not only improve their future; it will help our economy and our retired workers whom they will support. It ensures our national security, continued improvements in health outcomes, and will help the United States maintain its role as a leader in developing new cutting-edge technologies. By providing students with access to higher education, we are bolstering every sector of our economy from medical research to manufacturing because we are creating the next generation of innovators and leaders. Investing in our younger generations will not only help our students and families who are need; it strengthens America.
The promise of the American Dream is the glue that holds our communities together. It was educational opportunity that provided me, the proud daughter of a working family, to obtain a first-rate education and ultimately find my way to the floor of the House of Representatives to fight for what is right. By denying the opportunities afforded by access to higher education, we deny our families their share of the American Dream.
The College Cost Reduction Act addresses this crisis in a fiscally sound and responsible manner. It is funded by cutting unnecessary subsidies to private lenders and putting our taxpayer dollars to work for the American people. So, Mr. Speaker, this act will not only put college back in reach for our families; it does so by cutting almost $21 billion in taxpayer subsidies to private lenders and reinvesting over $20 billion of the savings in our Nation's students and putting an additional $750 million towards reducing our Nation's deficit.
Specifically, the College Cost Reduction Act will cut the interest rates on subsidized student loans in half. The bill invests heavily in the much-needed, need-based Pell Grant scholarship program, increasing the maximum award by at least $1,090 over the next 5 years and expanding eligibility for the grants. By passing this bill, we will make a college education possible for hundreds of thousands of additional students over the next 5 years.
Additionally, Mr. Speaker, this legislation also recognizes the value of our public servants by providing them with loan forgiveness for those who choose to serve in the jobs that make our world turn: teachers, firefighters, nurses, law enforcement officers, and librarians.
Further, the College Cost Reduction Act provides upfront tuition assistance to qualified undergraduates who commit to teaching in public schools in high-poverty communities. This bill invests in the strength of our communities and of our country. And the return on our investment as a Nation in our students and people will, without question, provide an enormous return.
Mr. Speaker, the crisis of college cost is pervasive, and it is getting worse. It is long past the time that Congress take action to ensure that a college education is not a privilege reserved only for the wealthy.
I urge all of my colleagues to support our children and our families by voting for the rule and the underlying bill.
Mr. Speaker, I reserve the balance of my time.
Mr. Speaker, I yield 6 minutes to the distinguished gentleman, the chairman of the Education and Labor Committee from California (Mr. George Miller).
Mr. Speaker, I yield 1 minute to the distinguished gentlewoman from Texas (Ms. Jackson-Lee).
(Ms. JACKSON-LEE of Texas asked and was given permission to revise and extend her remarks.)
Mr. Speaker, at this time, I yield 1 minute to the gentleman from New York, a distinguished member of the Education and Labor Committee, Mr. Bishop.
Mr. Speaker, I yield 1 minute to the gentleman from Illinois, a distinguished member of the Education and Labor Committee, Mr. Davis.
(Mr. DAVIS of Illinois asked and was given permission to revise and extend his remarks.)
Mr. Speaker, the Congress has an obligation to address the needs of the American people, and to work with them to address the pressing problems that they face.
Today, we take a great step towards regaining the faith of the American people as we pass the College Cost Reduction Act to provide hundreds of thousands of American families with the opportunity to create a better life for their children. I am proud to be a part of that effort.
The College Cost Reduction Act is a fiscally responsible bill which makes the single largest investment in college aid since the GI Bill, which, as we all know, provided our Greatest Generation with the opportunity to create the Nation we know today.
This legislation invests over $20 billion in student aid, and does so with no additional cost to the taxpayers.
Before I close, Mr. Speaker, I want to again applaud the extraordinary leadership of Chairman George Miller in making college affordability a top priority.
Under his guidance, all of the members of the Education and Labor Committee have crafted a good bill that works for our families and our country.
Mr. Speaker, I urge all of my colleagues to vote for this investment in our children, in our economy and in our future, to keep faith with the American people, and to send a clear message that the American Dream is not a relic of the past, but a cornerstone of our future.
I urge a ``yes'' vote on the previous question and on the rule.
Mr. Speaker, I yield back the balance of my time, and I move the previous question on the resolution.
The previous question was ordered.