Student Loans, Well Center and Low Tax Rates -- May 14, 2010

May 14, 2010

Dear Friend,

Thank you for reading another edition of my e-newsletter, the Carson Courier. For additional information on these and other topics, please visit my website at https://www.carson.house.gov.

In this week's Carson Courier:
Student Loans to be Made More Affordable
$8 Million Grant Awarded to Herman B. Wells Center for Pediatric Research
Tax Rates in 2010 at their Lowest Since 1950

Student Loans to be Made More Affordable

This time of year those about to graduate from high-school and their families must make final decisions about college. For many Hoosier families on tight budgets, going to college imposes a significant financial burden. As part of the health care reform bill recently passed by Congress, this new law will make higher education more affordable and ease the burden of student debt by streamlining the college loan process. These savings will be reinvested back into student financial aid programs and will generate more federal grant and lending opportunities. Of the $61 billion saved over the next 10 years, $51 billion will go toward making college more affordable (the remaining $10 billion will go toward reducing the deficit). To get our economy back on track, this great nation will need a more competitive, better educated workforce. Under this new law, any student who has the grades and desire to go to college should have that chance.

$8 Million Grant Awarded to Herman B. Wells Center for Pediatric Research

Recently, I joined HHS Secretary Kathleen Sebelius to announce an $8 million grant from the National Institutes of Health for the renovation of the Herman B. Wells Center for Pediatric Research. This funding will allow the Center to remain on the forefront for conducting ground-breaking research aimed at saving and improving the lives of children. The American Recovery and Reinvestment Act, which funded this grant, has spent $1 billion to upgrade and construct buildings, laboratories and related facilities across the country. Last year NIH awarded IUPUI with $22 million in grants.

Tax Rates in 2010 at their Lowest Since 1950

The combined tax rates of Americans are at their lowest in 60 years according to USA Today. The Bureau of Economic Analysis reported that federal, state and local income taxes consumed 9.2% of all personal income in 2009, the lowest rate since 1950, and far below the historic average of 12% over the past half-century.

American families earning the average national household income have benefitted from $3,400 in annual tax savings. The largest savings come from the American Recovery and Reinvestment Act's Making Work Pay tax credit which reduced income taxes $800 for married couples earning up to $150,000. The reduced tax burden has fueled consumer spending and economic growth, which grew at a 3.2% annual rate in the first quarter. These statistics are testament to the efforts of Democrats in Congress to pull this great nation out of one of the worst recessions in U.S. history. As your Representative in Congress, I will continue to support policies that benefit American families and that create good-paying jobs to put unemployed Hoosiers back to work.

To Read the USA Today article, please click here.

Thank you for reading the Carson Courier. Please do not hesitate to contact me with your thoughts and concerns. I value your views and your input which help me to better represent the people of Indiana's 7th District in Congress.

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Student Loans, Well Center and Low Tax Rates -- May 14, 2010