[Congressional Record Volume 162, Number 135 (Thursday, September 8, 2016)]
[House]
[Page H5170]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                             THE SIMPLE ACT

  The SPEAKER pro tempore. The Chair recognizes the gentleman from 
Pennsylvania (Mr. Costello) for 5 minutes.
  Mr. COSTELLO of Pennsylvania. Mr. Speaker, I rise today in support of 
the Streamlining Income-Driven, Manageable Payments on Loans for 
Education Act or, more simply, the SIMPLE Act.
  I first want to thank Congresswoman Suzanne Bonamici for her 
leadership and hard work on this bill, which I am proud to introduce 
with her today.
  Education is an area where we should be focused on bipartisan 
solutions because every Pennsylvanian--indeed, every American--deserves 
the opportunity to succeed, and that path to success starts with an 
education.
  Many of my constituents have expressed concerns about the cost of a 
college education, including making payments on their student loans 
after they graduate. The challenge of how to responsibly manage student 
debt makes this bill so important.
  The SIMPLE Act would assist millions of Americans who carry student 
loan debt. For many young people, student loan debt is the first type 
of debt they incur, but it can leave them unable to invest in their 
future, despite being employed and working hard.
  Consider that borrowers who miss payments may face lifelong 
ramifications that make it more expensive and, in some cases, 
prohibitive to rent an apartment or purchase a home or a car.
  Our bill would assist borrowers on the verge of default by notifying 
them of more affordable repayment plans. ``The SIMPLE Act establishes 
processes to automatically enroll severely delinquent borrowers in 
income-driven repayment plans with low monthly payments. The 
legislation also automates the annual process for updating income 
information while enrolled in these plans, ensuring that borrowers 
continue to make affordable payments.''
  ``This measure uses the information borrowers already have on file at 
the Internal Revenue Service to eliminate the obstacles to enrolling in 
an affordable repayment plan and lets borrowers benefit from lower 
monthly payments.'' But even those enrolled in affordable repayment 
plans face the paperwork hassle of a complicated process of having to 
annually recertify their income to keep their low payment. Failure to 
promptly recertify can, as I mentioned, result in substantial economic 
detriment. That is, again, why our legislation will responsibly relieve 
some of that burden by automatically updating a borrower's income.
  I urge my colleagues to support this bill. It will assist borrowers 
in getting back on track and, in turn, reduce the negative impact of a 
missed loan payment.


 Recognizing 95 Years of Exemplary Service of the Limerick Fire Company

  Mr. COSTELLO of Pennsylvania. Mr. Speaker, I rise today to recognize 
95 years of exemplary service to the 14,000 residents of Limerick 
Township, Montgomery County, by the Limerick Township Fire Company.
  Organized in 1921 and chartered in 1927, its now 250 members and 35 
active firefighters are doing a tremendous job in keeping Limerick 
Township safe, dedicating thousands of hours every year.
  I want to thank the company president, Tom Walters, and all the 
members of the Limerick Township Fire Department for the great work 
that they do. I wish them the very best for the next 95 years of 
service to the Limerick Township Fire Company and beyond.

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