Congress poised to act on highways, student loans

3:15 AM, Jun 29, 2012   |    comments
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JOAN LOWY
Associated Press

WASHINGTON (AP) - The House and Senate are poised to vote on a legislative package that would overhaul highway and transit programs, create 3 million jobs and spare millions of students from higher interest rates on college loans.

The bill would also financially shore up the federal flood insurance program.

Votes are expected in both chambers on Friday.

The burst of legislating comes just four months before the November elections, giving lawmakers achievements to show off to voters.

Sen. Barbara Boxer, a California Democrat who led Senate negotiations on the transportation portion of the package, said the bill will save 1.8 million jobs by keeping transportation aid flowing to states and create another 1 million jobs by using loan guarantees to leverage private investment in infrastructure projects.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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