Fiscal 2016 Budget Resolution -- Student Loan Refinancing

Warren, D-Mass., amendment no. 652 that would adjust the resolution to increase the recommended levels of federal revenue between fiscal years 2016 and 2025 by $72.5 billion, increase new budget authority and outlays during that period by $64.4 billion, and reduce deficit figures over those fiscal years by $8 billion. The changes are intended to reflect future legislation that would allow student loan borrowers to refinance outstanding debt at 2013-14 interest rates, which would be offset by requiring millionaires to pay a federal tax rate of at least a 30 percent.