Congress returns to work this week after the Fourth of July break with two big issues on its plate: student loan rates and immigration.
For college students taking out federal loans, all eyes are on the Senate where a bi-partisan group of lawmakers is trying to sell a compromise. Student loan rates doubled on July first, but any deal will likely make the new rate retroactive. The fight is over how high above the ten-year Treasury bill rate the interest rate for loans should be, and whether that number should be fixed.
Wednesday is the big day in the House when Republicans meet behind closed doors for what is expected to be heated debate over how to proceed on immigration reform. Republican Speaker John Boehner says he won't bring anything to the floor without a majority of his party's support. Several tough piecemeal bills have already cleared the Judiciary Committee. The bi-partisan "Gang of Seven," which includes L.A. Congressman Xavier Becerra, still hasn't presented its comprehensive bill.
Time is running out for action on Capitol Hill. Congress is scheduled to adjourn for the summer in early August.