Obama to sign student loan, transportation legislation Friday

WASHINGTON Tue Jul 3, 2012 4:23pm EDT

U.S. President Barack Obama smiles while walking towards Marine One on the South Lawn of the White House in Washington June 28, 2012. REUTERS/Larry Downing

U.S. President Barack Obama smiles while walking towards Marine One on the South Lawn of the White House in Washington June 28, 2012.

Credit: Reuters/Larry Downing

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WASHINGTON (Reuters) - President Barack Obama, eager to show voters he is pushing federal action to spur job creation and support education, will sign into law on Friday recently passed legislation on transportation investment and student loans, officials said.

The Democratic president will use the event at the White House with construction workers and college students to highlight his campaign of pressing lawmakers to bolster the fragile U.S. economic recovery. Republicans accuse Obama of election-year posturing.

Congress last week approved a massive job-creating U.S. transportation bill that, under a rare bipartisan deal, will also keep interest rates low for millions of federal student loans and maintain federal flood insurance.

Democrats and Republicans embraced the measure, which will provide $105 billion in transportation spending over the next 27 months intended to create or save about 3 million jobs. Job creation is a key issue ahead of the November 6 congressional and presidential elections.

Obama, faced with public concern over high U.S. unemployment, had urged Congress to approve the transportation bill and take steps to prevent interest rates from doubling on federal college loans for 7.4 million students.

Republicans had sought to tie the transportation bill to an accelerated approval of TransCanada Corp.'s Keystone oil pipeline, which the White House opposed doing, but dropped the demand last week.

(Reporting by Alister Bull; Editing by Will Dunham)

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Comments (11)
flashrooster wrote:
Another accomplishment for Obama. The only chance for Romney to win the Presidency is for the Republicans to cheat. So Romney still has a good chance.

Jul 03, 2012 5:16pm EDT  --  Report as abuse
UnPartisan wrote:
@flashrooster

It depends on the voters to decide who wins the election. As far as cheating goes, neither party is free from voter fraud or voter disenfranshisement. Romney has an uphill battle. Compared to Obama he has very little charisma. I dare say Bush Jr. had more charisma than Romney. Romney vs Kerry would have been the most boring debates ever.

Jul 03, 2012 5:54pm EDT  --  Report as abuse
ChangB wrote:
Let’s borrow 105 billion to save 3 million jobs, 1. I don’t believe it will save 3 million jobs, 2. I think that the government should stop borrowing money from China, 3. what happens to the 3 million jobs after the transportation spending is completed (what is transportation spending anyway), borrow another 100 billion dollars, to keep the same 3 million people employed.In the end America just like Europe will run out of other peoples money.

Jul 03, 2012 9:13pm EDT  --  Report as abuse
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