WASHINGTON (AP) — Congress is nearing agreements that would prevent a doubling of student loan interest rates and revamp the nation's transportation programs, House Speaker John Boehner said Wednesday. If completed, the compromises would resolve two vexing issues on which lawmakers face weekend deadlines for action.

Boehner, R-Ohio, made his remarks a day after the Senate's Democratic and Republican leaders said they'd reached a deal to prevent interest rates on new subsidized Stafford loans from doubling to 6.8 percent, beginning this Sunday. Their bipartisan agreement — which the White House backed — put pressure on Boehner to accept the deal, which if enacted would avoid antagonizing millions of students and their parents in an election year.

Separately, the government's authority to spend money on highways, bridges and transit systems expires Saturday, as does its ability to levy gasoline and diesel taxes. Bargainers have been working for months in search of compromise on that measure, but have been stymied by disputes over environmental reviews of highway projects, the proposed Keystone oil pipeline from Canada to Texas and other issues.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.