Bill is the single largest investment in higher education in history

On Tuesday, July 21st, the House Education and Labor Committee will consider legislation that will make college dramatically more affordable by investing billions of dollars in additional student aid, at no cost to taxpayers. The Student Aid and Fiscal Responsibility Act of 2009 will generate almost $100 billion in savings over the next ten years that will be used to boost Pell Grant scholarships, keep interest rates on federal loans affordable, safeguard federal student loan access for families, and enact President Obama’s key education priorities. The legislation, which was introduced earlier today, pays for itself by making the federal student loan programs more reliable, effective and cost-efficient for students, families and taxpayers.

For more information on the legislation, click here.

H.R. 3221 - The Student Aid and Fiscal Responsibility Act of 2009 was reported favorably to the House with an amendment in the nature of a substitute, and that the Committee authorize the Chairman to transmit the bill, with an amendment in the nature of a substitute, to the Committee on Budget in compliance with Section 310 of the Congressional Budget Act of 1974 as the first part of this committee’s recommendations, pursuant to the reconciliation instruction in S. Con. Res. 13 by a vote of 30 to 17.

The America’s Affordable Health Choices Act (H.R. 3200), developed jointly by the Ways and Means, Energy and Commerce, and Education and Labor Committees, is designed to achieve President Obama’s goals of strengthening employer-provided care, while fixing what is broken. The bill would ensure that 97 percent of Americans will be covered by a health care plan that is both affordable and offers quality, standard benefits by 2019.

The markup was expected to last two days.

Wednesday was only for opening statements only.

Thursday began at 10:00 a.m. in room 2175 Rayburn House Office Building will be for consideration of amendments.

After working through the night, the committee reconvened at 9:15 Friday morning for a series of roll call votes.

H.R. 3200 - America’s Affordable Health Choices Act of 2009 was reported favorably to the House with an amendment in the nature of a substitute, and that the Committee authorize the Chairman to transmit the bill, with an amendment in the nature of a substitute, to the Committee on Budget in compliance with Section 310 of the Congressional Budget Act of 1974 as the first part of this committee’s recommendations, pursuant to the reconciliation instruction in S. Con. Res. 13 by a vote of 26 to 22.