Amid Congressional and Public Pressure, Bush Reverses Veto Threat

[CatWoman]

PRNewswire-USNewswire — The White House announced today that President Bush will sign the College Cost Reduction and Access Act, H.R. 2669, into law at a signing ceremony at 11:30 a.m. ET on Thursday. In the face of overwhelming bipartisan support for the bill in Congress and among the public, the White House backed down from previous veto threats.

The Campaign for America's Future helped rally support for the legislation working with a wide range of groups that represent millions of students, parents and recent college graduates. The organizations included the National Education Association, US PIRG, NAACP, Rock the Vote, American Medical Student Association, United States Students Association and Campus Progress. Opponents of the bill included big banks and other private and commercial lenders, including Sallie Mae, Citibank and Nelnet.

Congress sent the legislation to the president last week with veto proof majorities in both houses. It was approved 292-97 in the House and 79-12 in the Senate. The legislation provides the largest increase in student aid since the G.I. Bill, cutting $20 billion in subsidies to student loan providers and redirecting the funds to students. Changes will begin to take effect on Monday, Oct. 1, providing welcome news for families dealing with tuition and fees that are rising far faster than inflation while real wages remain stagnant.

New government data shows that the cost of college is soaring out of the reach of more and more American families, according to a report recently released by the Campaign for America's Future. The report shows that undergraduate tuition and fees for a public four-year institution increased by 37 percent over the last six years, while median household incomes fell in that same period. The College Cost Reduction and Access Act provides a first step in a long-term effort to insure that college is affordable to all.

http://digital50.com/news/items/PR/2007/09/26/DC03519/president-will-sign-the-largest-increase-in-student-aid-since-the-g-i-bill-on-thursd.html

[Pirate Smile]

1. OK, now SCHIP.

[Xipe Totec]

2. George will hold out his veto wand

and shake it vigorously till he's completely satisfied...

... that he is the master debater on any subject.

[Hydra]

3. Watch out for signing statements

when lord pissypants gives in, you have to watch for the "yeah, but" part