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>>> WE'RE KICKING OFF 30 MINUTES
OF COMMERCIAL FREE NEWS.
LET'S START WITH OUR POLITICAL
GUT CHECK.
ALL THE STORIES YOU NEED TO KNOW
COMING OUT OF WASHINGTON.
>> CONGRESS HAS TAKEN OFF ON
THEIR WEEK LONG FOURTH OF JULY
RECESS, BUT THEY HAVE LEFT QUITE
A LOT OF UNFINISHED BUSINESS
BEHIND ON CAPITOL HILL,
INCLUDING STUDENT LOAN RATES
THAT ARE SET TO DO DOUBLE TODAY.
JAKE TAPPER, CNN'S CHIEF
WASHINGTON CORRESPONDENT, HOST
OF "THE LEAD," HERE TO TALK MORE
ABOUT THIS.
CHRIS AND I KEEP TALKING, THIS
IS THE STORY IN WASHINGTON THAT
PEOPLE ARE NOT TALKING ENOUGH
ABOUT.
WE HAVE IMMIGRATION, NSA LEAKS,
BUT THE STUDENT LOANS COULD
DOUBLE TODAY, WILL DOUBLE TODAY.
IT COULD BE THOUSANDS OF DOLLARS
MORE FOR EACH STUDENT.
HOW CAN CONGRESS LET THIS
HAPPEN?
>> TYPICAL WASHINGTON, D.C.
DYSFUNCTION IS THE SHORT ANSWER
TO THAT.
EVERYBODY KNEW THIS DATE WAS
COMING AND YET NO COMPROMISE WAS
ABLE ON TO BE ACHIEVED.
I DO HAVE SOME DECENT NEWS,
THOUGH, WHICH IS THAT ACCORDING
TO THE ADMINISTRATION AND
CONGRESSIONAL SOURCES WITH WHOM
I'VE SPOKEN, THERE IS SOME
OPTIMISM THAT THIS WILL BE TAKEN
CARE OF NEXT WEEK OR THE WEEK
AFTER THAT.
AND THAT THE LOWER RATES WILL BE
RETROACTIVE.
SO THAT ULTIMATELY STUDENTS WILL
NOT HAVE TO PAY THE HIGHER RATE.
I DO HAVE REASON TO BELIEVE THAT
THERE IS THE BASIS FOR A
COMPROMISE TO COME TOGETHER.
SO I DO THINK PEOPLE WILL BE
ABLE TO GET TOGETHER ON THIS.
>> GREAT HAVING YOU ON THE SHOW.
THANKS FOR DOING IT.
WHAT IS YOUR BEST SENSE ON WHY
HER AND HE LETTING THE STUDENTS
FALL INTO THE HOLE LIKE THIS?
THEY WOULDN'T DO THIS TO THE
BANKS.
>> PROBABLY NOT.
I THINK THERE IS AN IMPASSE
ABOUT WHETHER THE RATE SHOULD BE
KEPT AT 3.4% OR SHOULD BE TIED
TO THE ECONOMY.
THERE IS A DISAGREEMENT BETWEEN
DEMOCRATS AND REPUBLICANS ON
THAT.
THERE IS ALSO A QUESTION OF IF
THEY DO GO -- IF THEY'RE TIED TO
THE MARKET, WHETHER OR NOT THEY
SHOULD BE CAPPED SO THEY NEVER
GO ABOVE, SAY, 8%.
AND THERE IS A LOT OF
DISAGREEMENT BETWEEN REPUBLICANS
AND DEMOCRATS ON THAT.
THERE IS GROUNDS FOR A
COMPROMISE LIKE I SAID AND I DO
THINK THAT ULTIMATELY WITH THE
KNOWLEDGE THAT THEY WOULD BE
ABLE TO FIX THIS RETROACTIVELY,
MEMBERS OF CONGRESS WENT ON
THEIR VACATIONS AND DECIDED THEY
WOULD DEAL WITH IT LATER.
>> SPEAKING OF THINGS THAT THEY
LEFT TO DEAL WITH LATER, VOTING
RIGHTS ACT FOLLOWING THE SUPREME
COURT DECISION, THERE HAS BEEN
SOME DISCUSSION THAT CONGRESS
SHOULD QUICKLY TAKE UP TO KIND
OF REWORK THE FORMULA IN ORDER
TO HAVE SOME OF THESE
RESTRICTIONS AND LIMITATIONS
THAT THE VOTING RIGHTS ACT HAD
PUT INTO PLACE, KIND OF FIXEDED
A PUT BACK INTO PLACE.
CANDY CROWLEY HAD CHAIRMAN OF
THE HOUSE JEW ADDITION AIR
COMMITTEE ON AND HE MADE IT
CLEAR THAT YOU SHOULDN'T GET
YOUR HOPES UP.ADDITION AIR
COMMITTEE ON AND HE MADE IT
CLEAR THAT YOU SHOULDN'T GET
YOUR HOPES UP.
IS THERE ANY CHANCE THAT A
CONGRESS THIS POLARIZED COULD
TRY TO TAKE ON SOMETHING SO
SENSITIVE AND REALLY
CONTROVERSIAL AT THIS POINT?
>> THERE IS A CHANCE THIS THEY
COULD DEAL WITH THIS, BUT I DO
THINK THIS IS SOMETHING THAT IS
MUCH MORE OF A LONGER TERM
PROJECT, THE DEPARTMENT OF
JUSTICE IS JUST NOW MEET BEING
AND DISCUSSING WHAT FORMULA THEY
WOULD SUGGEST.
REMEMBER WHAT THE SUPREME COURT
STRUCK DOWN WAS THE IDEA THAT
THESE STATES THAT WERE JUDGED TO
HAVE HAD VOTING PROBLEMS IN 1965
SHOULD CONTINUE TO HAVE TO
SUBMIT THEIR CHANGES TO VOTING
BEFORE THEY'RE DONE.
THE PRESIDENT WHEN HE WAS GIVING
A COMMENT ON ON THIS, A RESPONSE
TO THIS IN AFRICA, TALKED ABOUT
HOW THERE COULD BE REMEDIES THAT
ARE NOT BASED ON JURISDICTION,
MEANING NOT NECESSARILY THE SAME
SOUTHERN STATES THAT WERE IN THE
VOTING RIGHTS ACT TO BEGIN WITH.
THIS IS THE KIND OF THING ONE
REPUBLICAN ON CAPITOL HILL TOLD
ME THAT BENEFITS FROM TAKING
PLACE ON A LONG METHODICAL AWAY