(Washington, D.C.)- Rep. Barbara Lee (D-CA), Chairwoman of the Congressional Black Caucus, released the following statement today after President Barack Obama signed the Health Care and Education Reconciliation Act of 2010:

 “Today President Obama signed into law legislation that will tackle the twin burdens of rising health care and college tuition costs, which are sapping the finances of millions of American struggling to make ends meet.

“The Health Care and Education Reconciliation Act contains several key provisions sought by members of the Congressional Black Caucus such as increased support for Historically Black Colleges, Minority Serving Institutions and community colleges.

“Educational attainment is one of the most important factors in long-term economic security, and this legislation will make higher education more affordable and accessible. This bill is a critical down-payment toward the future prosperity of millions of Americans and our nation as a whole.

“It was an honor to be there as President Obama signed this historic legislation into law, and I look forward to working with the president and my colleagues in Congress to continuing to fight for quality, affordable and accessible education for all Americans.”
Among the provisions supported by members of the CBC include:
• Invests $35 billion over 10 years to increase the maximum annual Pell Grant to $5,550 in 2010 and to $5,975 by 2017.
• Invests $2.55 billion in Historically Black Colleges and Universities and Minority-Serving Institutions to provide students with the support they need to stay in school and graduate.
• Invests $2 billion in a competitive grant program for community colleges to develop and improve educational or career training programs.
• Saves taxpayers $61 billion over 10 year by allowing students to borrow directly from the government through the Direct Loan program thus avoiding excessive bank fees.