Alison Lundergan Grimes Falls In Line With Obama, Senate Liberals On The Issues

FOR IMMEDIATE RELEASE

June 28, 2014
Contact: Allison Moore 502-618-1372

LOUISVILLE – Team Mitch today released the following statement and background information on Alison Lundergan Grimes lining up behind the Senate liberal’s tax hike plan on student loans.

Grimes Student LoanPlan “Mirrors” Liberal Sen. Elizabeth Warren’s Plan. “The plan Grimes released Thursday mirrors some of Warren’s proposals, including the measure to allow those with student loan debt to refinance them at lower interest rates. She also wants to allow a one-year period when new student borrowers could obtain a loan at a three-quarter of 1 percent interest rate. The current student loan rate is 3.4 percent.” (Ronnie Ellis, “Grimes hears student loan ills in Danville,” Richmond Register, 6/26/14)

Background On Elizabeth Warren’s Student Loan Bill

Elizabeth Warren’s Plan Involves Raising Taxes. “The main reason Republicans objected to the measure has less to do with the idea of easing student loan debt, and more with the mechanism Warren used to offset the cost of refinancing those loans. Itwould cost the government $51 billion over the next decade to allow borrowers to refinance. But Warren's bill would have actually reduced the deficit, bringing in $72 billion in new revenues by implementing the so-called Buffet Rule, an added surcharge tax on millionaires to ensure that they pay at least 30 percent of their income in taxes. (PatrickCaldwell,” Republicans Just Killed Elizabeth Warren's Plan to Ease Americans' Crushing Student Loan Debt,” Mother Jones, 6/11/14)

President Barack Obama Endorsed Elizabeth Warren’s Student Loan Plan. “President Barack Obama on Monday will throw his support behind a new proposal to dramatically revamp the federal student loan program, according to the White House.” (Shahien Nasirpour, Sam Stein, “Obama To Endorse Elizabeth Warren's Student Loan Proposal,” HuffingtonPost, 6/06/14)

Warren’s Bill Is A “Central Part” Of The Senate Democrat’s Midterm Election Agenda. “Warren's bill is a central part of Senate Democrats’ so-called “Fair Shot” agenda in advance of November’s elections.” (Shahien Nasirpour, Sam Stein, “Obama To Endorse Elizabeth Warren's Student Loan Proposal,” Huffington Post, 6/06/14)

Warren’s Bill “Is More About The Politics Of The Issue And Not About Passing The Bill”. “The cost to enact the proposal combined with new taxes, they added, “suggests to us that the Warren bill is more about the politics of the issue and not about passing the bill." (Shahien Nasirpour, Sam Stein, “Obama To Endorse Elizabeth Warren's Student Loan Proposal,” Huffington Post, 6/06/14)

Elizabeth Warren’s Bill Is “Political Theater”. “Elizabeth Warren is back on the student debt beat. The Massachusetts Democrat has announced that she is introducing legislation that would allow certain borrowers to “refinance” their old education loans at today’s low government rates. To help pay for her plan, she would enact the ever-popular Buffett Rule, which would impose a minimum tax rate on millionaires. This is mostly political theater.” (Jordan Weissmann, “Elizabeth Warren’s Smart, Flawed, and Obviously Doomed Plan to Help Student Borrowers,” Slate, 5/6/14)

Elizabeth Warren’s Bill Is A “Glorified Talking Point”. “In other words, the bill is a glorified talking point.” (Jordan Weissmann, “Forget Elizabeth Warren,” Slate, 6/10/14)

Student Loan Experts Believe That Many Of “People Who Need Assistance Most…Won’t Get Help” From Elizabeth Warren’s Bill. “The bill itself is limited by the fact that it requires private loan borrowers to show that they're in good standing with their loan to qualify for a federal loan with a lower rate. Some experts worry that means the people who need assistance the most — private borrowers who've fallen behind on their loans — won't get help.” (Arit John, “Two Plans to (Possibly) Reduce Your Student Loan Payments,” The Wire, 6/9/14)

For The Second Week In A Row, Grimes Copied Senate Democrat Proposals

Grimes Plan To Pay For The Brent-Spence Bridge Would Involve Raising Taxes. “One minute before McConnell was scheduled to speak, Democratic candidate AlisonLundergan Grimes released her plan to raise money for the bridges, by eliminating what she called tax loopholes "for millionaires and billionaires." She doesn't like tolls either.” (Chris Turner, “McConnell, Grimes release competing plans for bridge funding,” WDRB, 6/20/14)

Grimes Copied Directly From The Liberal Senate Budget Committee’s Tax Plan In Her Plan To Pay For The Brent Spence Bridge. “Democratic challenger Alison Lundergan Grimes endorsed a plan by the Senate Budget Committee that she said would close the shortfall in the Federal Highway Trust Fund and pay for the bridge.” (Adam Beam, “McConnell, Grimes announce competing bridge plans,” Associated Press, 6/20/14)

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