MPR DEBATE: McFadden would protect billionaires over Minnesota students, families
Investment banker Mike McFadden thinks Congress should ignore the millions of Americans struggling with student loan debt and would protect millionaires and billionaires over giving half a million Minnesotans the ability to refinance their high-interest student loans.
FACT: MIKE MCFADDEN OPPOSES PLAN THAT FULLY PAYS FOR ALLOWING GRADUATES TO REFINANCE STUDENT LOANS BECAUSE IT RAISES TAXES ON MILLIONAIRES AND BILLIONAIRES
McFadden Spokesman Said He “Supports Allowing Students To Refinance” Student Loans, But Program Should Be Paid For With Budget Cuts Elsewhere. “Looking back, I’m not sure whether on my first round with McFadden he was aware that this was a bill that would actually reduce the deficit but that he objected to the means by which it would do it, or whether he was unaware and didn’t want to commit to the cost of the bill until he heard about how it would be financed. After I understood what was in the bill, I followed up through spokester Erickson and got this response: ‘Mike supports allowing students to refinance, but instead of raising taxes, Mike thinks the government should cut spending elsewhere to pay for it. If Sen. Franken were serious about helping students refinance their loans, he should reach across the aisle and try to build consensus with Republicans, not play politics by tying the bill to a massive tax increase.’” [MinnPost, 7/10/14]
FACT: MIKE MCFADDEN CARES SO MUCH ABOUT THE STUDENT DEBT CRISIS HE … ATTACKED AL FRANKEN FOR FOCUSING ON IT
McFadden Criticized Franken And The Senate “For Focusing On Student Loan Refinancing.” “Citing an Associated Press report saying that an al-Qaida affiliate in Syria is trying to recruit American ISIS fighters to launch terror attacks on U.S.-bound flights, U.S. Senate candidate Mike McFadden (R-MN) slammed Senate leaders for focusing on student loan refinancing and campaign finance reform instead of passing legislation taking passports away from Americans fighting with terror groups abroad.” [McFadden Press Release,9/14/14]
Bottom Line: The fact that investment banker Mike McFadden would protect millionaires and billionaires and dismiss the importance of giving half a million Minnesotans student loan relief just shows he is more interested in playing politics than actually solving problems.