As House Reconciliation Bill Nears House Vote, Senior White House Advisors Signal Possible Veto

Abstract:

The House reconciliation bill, the College Cost Reduction Act of 2007 (H.R. 2669), is scheduled for a full House vote as early as Thursday, but according to a Statement of Administration Policy released from the executive Office of Management and Budget yesterday, the President’s senior advisors would ask that the bill be vetoed in its current form. The OMB statement argues that unlike the President’s 2008 budget that proposes that all savings from subsidy cuts be used for need-based student aid, “H.R. 2669 targets less than 40 percent of its new spending toward needy students while they are in school.”  The statement accuses House leaders of using “gimmicks” and “hidden costs” that will result in higher federal spending.

The original full article was published in NASFAA’s Today’s News on 7/11/07