I want to be clear that not only does Medicare remain intact under health reform, reform makes it better.  In the last week, I have visited senior communities in Tinton Falls and Princeton to talk with residents about how reform improves Medicare by providing free preventive care, lowering drug costs, extending the life of the Medicare Trust Fund by nine years, and cutting down on insurance fraud and abuse. Click here for more information about health care reform.

While the focus has been on the health care reform package, this week President Obama signed into law legislation to help families struggling with the rising costs of higher education. As a member of the House Committee on Education and Labor, on Tuesday I attended the bill signing for the new law, which makes the single largest investment of college aid ever.

As I’ve written about before, the law will originate all new federal student loans through the Direct Loan program, instead of through lenders subsidized by taxpayers. In New Jersey, Rutgers University has participated in the Direct Loan program for a number of years and has found it to meet the needs of its students. The Direct Loan program is not affected by market swings and can ensure that students have access to affordable college loans, at the same low interest rates, terms, and conditions. According to the Congressional Budget Office, the legislation will generate $61 billion in savings over the next 10 years. The legislation will invest those savings directly in student aid programs, including $36 billion to boost the Pell Grant Program, while returning $10 billion to pay down the deficit. The savings also will be put into aid for community colleges and a reduction in interest rates of student loans.

Information on how the bill affects Central New Jersey can be found here.

Exporting Workshop

Less than 1 percent of U.S. small businesses currently export goods and services, and 58 percent export to just one country. On Wednesday, April 7 in New Brunswick, I will be hosting a “Export 101” workshop to help area businesses grow their exports of goods and services. The workshop will feature speakers from the business community and Department  of Commerce who will provide information about how to take advantage of financing and resources.  

I recently presented awards from the Department of Commerce to three local New Jersey companies with exemplary export programs. The companies make disposable medical thermometers, export materials for recycling, and refurbish garbage trucks for sales oversees.

The workshop will be held on April 7 at 1 p.m. at the Technology Centre of New Jersey, which is located at 675 U.S. Route 1 in North  Brunswick. If you want to attend, please RSVP to Matthew Hall in my New Jersey office at (609) 750-9365 or Matthew.Hall@mail.house.gov. I look forward to hearing from you.

Sincerely,

RUSH HOLT
Member of Congress