S. 2366: Interest Rate Reduction Act

112th Congress · introduced 2012-04-25 · Education · Latest: Introduced in the Senate. Read twice. Ordered Placed on Senate Legislative Calendar under General Orders. Calendar No. 370.

federal

Follow this bill, step by step

Where it came from: introduced 2012-04-25 · official record
Who proposed it: Sen. Alexander, Lamar [R-TN] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Introduced in the Senate. Read twice. Ordered Placed on Senate Legislative Calendar under General Orders. Calendar No. 370. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Interest Rate Reduction Act

Plain summary

Interest Rate Reduction Act - 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 Patient Protection and Affordable Care Act to repeal provisions establishing and appropriating funds to the Prevention and Public Health Fund (a Fund to provide for expanded and sustained national investment in prevention and public health programs to improve health and help restrain the rate of growth in private and public sector health care costs). Rescinds any unobligated balances appropriated to such Fund.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Interest Rate Reduction Act

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Alexander, Lamar [R-TN] · 21 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Mitch McConnell (R-KY), John Cornyn (R-TX), Roger F. Wicker (R-MS), John Barrasso (R-WY), John Hoeven (R-ND), John Thune (R-SD)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)

Appropriation: Money a legislature sets aside by law for a specific purpose. Government agencies may spend public money only as it has been appropriated.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112s2366.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/s>

Record fed-us-cong112-s2366 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112