Mark Neumann responds to Democratic U.S. Senate candidate Tammy Baldwin’s call for her GOP counterparts to support lowering college student loan interest rates.
While speaking to reporters outside of Baldwin’s Madison office, Neumann called her “hypocritical” for supporting the 2007 House bill that led to the looming interest rate increase. The Republican Senate candidate said the legislation–five years ago–was a “budgeting gimmick” to make it appear there was more revenue than there actually was.
Interest rates for student loans are 3.4 percent, but are set to double to 6.8 percent this year.
One aspect of Baldwin’s plan is to implement the Buffett Rule which would raise taxes on millionaires. “We can keep interest rates low and provide students a fair shot at an affordable education, by making wealthier individuals pay their fair share in taxes,” said Baldwin in a release.
Neumann said any loan interest relief should be off-set by spending reductions. Neumann, a former Congressman, faces Assembly Speaker Jeff Fitzgerald, businessman Eric Hovde and former Governor Tommy Thompson in an August primary. The GOP nominee will face Baldwin in November.
AUDIO: Brian Moon reports (1:12)
