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AFGE URGES PRESIDENT TO REJECT STUDENT LOAN FUNDING SCHEME

***This information should not be downloaded using government equipment, read during duty time or sent to others using government equipment. Do not circulate at the worksite.***

Federal employees would pay for student loan rate extension under GOP plan 

WASHINGTON (May 31, 2012) – American Federation of Government Employees National President John Gage today sent a letter to President Obama urging him to reject a Republican leadership proposal to pay for a one-year extension of the current student loan rate by permanently increasing the amount federal employees must pay for their retirement.

The proposal from House and Senate Republican leaders would pay for a one-year extension of the current Stafford student loan rate by increasing contributions of current federal employees to their retirement system by 1.2%.

This amounts to an annual tax increase of hundreds of dollars for every federal employee, whose pay has already been frozen for two consecutive years, President Gage wrote.

Not only is federal retirement entirely unrelated to student loan interest rates, requiring federal employees to pay more for their retirement benefit is nothing more than an unjustified income tax increase on one small segment of the population, the working and middle class Americans who make up the federal government’s workforce.

The full text of the letter is here: https://afgeunionblog.files.wordpress.com/2012/05/letter-to-president-obama-5-31-12.pdf.

 

 

 

One Response

  1. My God, this GOP and Tea Party crap is about to piss me off

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