The U.S. House of Representatives pushed back a vote on a bill Thursday that includes cuts to financial aid for college students over the next five years. If passed, the measure would cut approximately $50 billion from the federal budget, including $14.5 billion in student financial aid cuts.
Proponents of the bill say that it would ease the federal budget deficit as Congress prepares for a new round of tax cuts. The House plan decreases spending on public programs by $54 billion while setting the stage for about $70 billion worth of tax breaks.
The cuts in financial aid to college students will mostly affect federal student loan programs. According to the Wisconsin zPublic Interest Research Group, the typical student borrower with $17,500 in debt will have to pay an additional $5,800 if the new cuts are put in place.
The vote was delayed as House Republican leaders tried to garner more votes from wavering GOP members. Most Wisconsin representatives have already taken firm stances on the proposed spending cuts. Democrats have united against them, calling the cuts unfair to students, while Republicans are defending the cuts, calling them fiscally responsible.
U.S. Rep. Tammy Baldwin, D-Madison, opposes the cuts. 'These cuts are just one more example of this administration and Congress seeking to enrich the few at the expense of the many,' Baldwin said.
Rep. Ron Kind, D-La Crosse, calls the cuts a 'raid on student aid' and has joined other house Democrats on the House Education Committee to rally against the bill. 'Instead of making drastic cuts to higher education, we should be investing more in the skills of a new generation of students so they succeed in today's global marketplace and make America's economy stronger,' Kind said.
Most Wisconsin Republicans support the bill due to the reduction in spending.
'We're talking about reducing the rate of spending by $53.9 billion,' said Rep. Paul Ryan, R-Janesville, 'They [Democrats] want to raise taxes rather than control spending. I want to control spending,' Ryan said. 'The last thing Wisconsin taxpayers need today is a bigger tax bill.'
