WASHINGTON, D.C. – In an ongoing effort to keep folks at home informed of his work in the Senate, U.S. Senator Angus King (I-ME) took a few minutes to discuss the events of this past week in the nation’s capital. In his weekly recap, Senator King addressed:
- Final passage of the “Bipartisan Student Loan Certainty Act” by a vote of 81-18. The bill, introduced by Senators King, Manchin, Burr, Coburn, Carper, and Alexander, provides a long-term fix that lowers student loan interest rates for all students. Senator King characterized the legislation as “a good result achieved through a good process.”
- The 21st Century Glass-Steagall Act that reduces risk for the American taxpayer in financial system and decreases the likelihood of future financial crises. “Basically it separates the banks from the more risky activities. This was the law in this country for about 70 years from the 30s through the late 90s. It was repealed in 1999, and I think…it was a huge mistake that contributed to the financial crisis of 2008. Our bill has stirred a lot of interest around here, and we are going to be looking for more co-sponsors and hope to get some motion on [it] in the fall,” said senator King.
- The dangers posed to U.S. national security by sequestration and Congress’s inability to pass a budget. Talking about the impacts of sequestration Senator King said, “It is a very serious problem that faces us. I characterized it in the Committee as saying, ‘The most serious threat to national security right now isn’t any of our enemies overseas, it’s the United States Congress because we can’t get our act together on a budget process.’"
The full video of Senator King’s weekly recap can be viewed below. A broadcast-quality version of the video can also be downloaded by clicking here.
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