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112th Congress (2nd) Vote 113 - A bill to amend the Higher Education Act of 1965 to extend the reduced interest rate for Federal Direct Stafford Loans, and for other purposes.
5/24/2012, 4:35 PM
Vote Summary
S 2343 - Stop the Student Loan Interest Rate Hike Act of 2012
112th Congress (2nd) Vote 113 is a Senate Vote on Bill S 2343, Stop the Student Loan Interest Rate Hike Act of 2012. S 2343 was introduced on April 24, 2012 by 1 Sponsors and 0 Cosponsors.
Stop the Student Loan Interest Rate Hike Act of 2012 - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to make the 3.4% interest rate on Direct Stafford loans first disbursed to undergraduate students between July 1, 2011, and July 1, 2012, applicable to Direct Stafford loans first disbursed to undergraduate students between July 1, 2011, and July 1, 2013.
Amends the Internal Revenue Code and title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to require certain shareholders of a subchapter S corporation engaged as a partner in a professional service business to include income or loss attributable to such business in their net earnings from self-employment for employment tax purposes.
Restricts such tax treatment to shareholders whose modified adjusted gross income exceeds a specified amount that varies based on their tax filing status.
Defines a "professional service business" as any trade or business providing services in the fields of health, law, lobbying, engineering, architecture, accounting, actuarial science, performing arts, consulting, athletics, investment advice or management, or brokerage services.
The vote failed with a tally of 51 For, 43 Against, 1 Present, and 5 Not Voting. When broken down by party, there were 49 Democrats, 0 Republican, and 2 Independents voting For, 1 Democrats, 42 Republican, and 0 Independents voting Against, 0 Democrats, 1 Republican, and 0 Independents voting Present, and finally, 1 Democrats, 4 Republican, and 0 Independents Not Voting.
Voting For
Democrat
Republican
Independent
51
49
0
2
Voting Against
Democrat
Republican
Independent
43
1
42
0
Voting Present
Democrat
Republican
Independent
1
0
1
0
Not Voting
Democrat
Republican
Independent
5
1
4
0
Official Vote Question
On Passage of the Bill S. 2343 - A bill to amend the Higher Education Act of 1965 to extend the reduced interest rate for Federal Direct Stafford Loans, and for other purposes.
Official Vote Result
Bill Defeated (51-43, 3/5 majority required)
Comments
Senators' Votes on A bill to amend the Higher Education Act of 1965 to extend the reduced interest rate for Federal Direct Stafford Loans, and for other purposes.
Voting Member of 112th Congress (2nd) Vote 113

Mark R. Warner

Jim Webb

Sheldon Whitehouse

Ron Wyden

Roger F. Wicker

David Vitter

Tom Udall

Mark Udall

Jon Tester

Patrick J. Toomey

John Thune

Jeanne Shaheen

Jeff Sessions

Debbie Stabenow
