[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5812 Introduced in House (IH)]

112th CONGRESS
  2d Session
                                H. R. 5812

    To amend the Higher Education Act of 1965 to extend the reduced 
            interest rate for Federal Direct Stafford Loans.


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                    IN THE HOUSE OF REPRESENTATIVES

                              May 17, 2012

 Mr. DeFazio introduced the following bill; which was referred to the 
   Committee on Ways and Means, and in addition to the Committee on 
Education and the Workforce, for a period to be subsequently determined 
 by the Speaker, in each case for consideration of such provisions as 
        fall within the jurisdiction of the committee concerned

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                                 A BILL


 
    To amend the Higher Education Act of 1965 to extend the reduced 
            interest rate for Federal Direct Stafford Loans.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Investing in Our Student's Future 
Act''.

SEC. 2. INTEREST RATE EXTENSION.

    Subparagraph (D) of section 455(b)(7) of the Higher Education Act 
of 1965 (20 U.S.C. 1087e(b)(7)) is amended--
            (1) in the matter preceding clause (i), by striking ``and 
        before July 1, 2012,''; and
            (2) in clause (v), by striking ``and before July 1, 
        2012,''.

SEC. 3. ONE-PERCENT INCREASE IN HIGHEST MARGINAL RATE OF TAX FOR 
              INDIVIDUALS.

    Section 1 of the Internal Revenue Code of 1986 is amended by adding 
at the end the following new subsection:
    ``(j) One-Percent Increase in Highest Marginal Rate.--In the case 
of taxable years beginning in a calendar year after 2012, the highest 
marginal rate of tax in effect under subsections (a), (b), (c), and (d) 
for the taxable year shall be increased by 1 percentage point.''.
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