H.R.3564 — Middle Class Borrower Protection Act of 2023

House Roll Call

H.R.3564

Roll 287 • Congress 118, Session 1 • Jun 23, 2023 11:01 AM • Result: Failed

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BillH.R.3564 — Middle Class Borrower Protection Act of 2023
Vote questionOn Agreeing to the Amendment
Vote typeRecorded Vote
ResultFailed
TotalsYea 204 / Nay 216 / Present 0 / Not Voting 19
PartyYeaNayPresentNot Voting
R021608
D2040011
I0000

Research Brief

On Agreeing to the Amendment

Bill Analysis

Summary of HR 3564: Middle Class Borrower Protection Act of 2023

The Middle Class Borrower Protection Act of 2023 aims to enhance protections for middle-class borrowers in the federal student loan system. The bill seeks to address the financial burdens faced by borrowers, particularly those from middle-income households, by implementing measures to improve transparency, affordability, and borrower rights.

Key Provisions:

  1. Interest Rate Cap: The bill proposes a cap on federal student loan interest rates for middle-class borrowers, ensuring that rates remain manageable and do not exceed a specified percentage above the market rate.
  2. Income-Driven Repayment Plans: It mandates the establishment of more accessible income-driven repayment plans (IDR) that adjust monthly payments based on income, ensuring that borrowers are not overwhelmed by debt.
  3. Loan Forgiveness Options: The legislation expands eligibility for loan forgiveness programs, particularly for public service workers, and streamlines the application process to facilitate access for borrowers.
  4. Enhanced Borrower Protections: The bill includes provisions to protect borrowers from aggressive collection practices and mandates clearer communication from loan servicers regarding borrower rights and repayment options.

Funding and Authorities: The bill does not specify new funding sources but anticipates reallocating existing federal education funding to support the implementation of its provisions. It grants the Department of Education increased authority to regulate loan servicers and enforce compliance with borrower protection standards.

Affected Programs/Agencies: The primary agency impacted is the U.S. Department of Education, which will oversee the administration of student loans and the enforcement of new borrower protections.

Beneficiaries: The legislation primarily benefits middle-class borrowers, particularly those struggling with student loan debt, as well as public service employees eligible for loan forgiveness.

Key Timelines: Following its introduction, HR 3564 has been received in the Senate, where it has been read twice and referred to the Committee on Banking, Housing, and Urban Affairs for further consideration. The timeline for further action remains pending as the committee evaluates the bill.

View bill source • Clerk record • API record

Yea (204)

C
Colin Allred

TX • D • Aye

E
Earl Blumenauer

OR • D • Aye

J
Jamaal Bowman

NY • D • Aye

Y
Yadira Caraveo

CO • D • Aye

T
Tony Cárdenas

CA • D • Aye

M
Matt Cartwright

PA • D • Aye

G
Gerald Connolly

VA • D • Aye

J
Jason Crow

CO • D • Aye

L
Lloyd Doggett

TX • D • Aye

A
Anna Eshoo

CA • D • Aye

J
John Garamendi

CA • D • Aye

R
Raúl Grijalva

AZ • D • Aye

B
Brian Higgins

NY • D • Aye

J
Jeff Jackson

NC • D • Aye

S
Sheila Jackson Lee

TX • D • Aye

D
Daniel Kildee

MI • D • Aye

D
Derek Kilmer

WA • D • Aye

A
Ann Kuster

NH • D • Aye

B
Barbara Lee

CA • D • Aye

K
Kathy Manning

NC • D • Aye

L
Lucy McBath

GA • D • Aye

G
Grace Napolitano

CA • D • Aye

W
Wiley Nickel

NC • D • Aye

B
Bill Pascrell

NJ • D • Aye

D
Donald Payne

NJ • D • Aye

M
Mary Peltola

AK • D • Aye

K
Katie Porter

CA • D • Aye

C
C. Ruppersberger

MD • D • Aye

J
John Sarbanes

MD • D • Aye

A
Abigail Spanberger

VA • D • Aye

E
Eric Swalwell

CA • D • Aye

R
Rashida Tlaib

MI • D • Aye

D
David Trone

MD • D • Aye

N
Nydia Velázquez

NY • D • Aye

D
Debbie Wasserman Schultz

FL • D • Aye

J
Jennifer Wexton

VA • D • Aye

S
Susan Wild

PA • D • Aye

Nay (216)

K
Kelly Armstrong

ND • R • No

D
Dan Bishop

NC • R • No

K
Ken Buck

CO • R • No

L
Larry Bucshon

IN • R • No

M
Michael Burgess

TX • R • No

K
Ken Calvert

CA • R • No

J
Jerry Carl

AL • R • No

L
Lori Chavez-DeRemer

OR • R • No

A
Anthony D'Esposito

NY • R • No

J
John Duarte

CA • R • No

J
Jeff Duncan

SC • R • No

A
A. Ferguson

GA • R • No

S
Scott Franklin

FL • R • No

M
Matt Gaetz

FL • R • No

M
Mike Gallagher

WI • R • No

M
Mike Garcia

CA • R • No

J
Jenniffer González-Colón

PR • R • No

B
Bob Good

VA • R • No

K
Kay Granger

TX • R • No

G
Garret Graves

LA • R • No

M
Mark Green

TN • R • No

B
Bill Johnson

OH • R • No

D
Doug Lamborn

CO • R • No

J
Jake LaTurner

KS • R • No

D
Debbie Lesko

AZ • R • No

B
Blaine Luetkemeyer

MO • R • No

L
Lisa McClain

MI • R • No

P
Patrick McHenry

NC • R • No

M
Marcus Molinaro

NY • R • No

A
Alexander Mooney

WV • R • No

G
Greg Pence

IN • R • No

C
Cathy Rodgers

WA • R • No

M
Matthew Rosendale

MT • R • No

J
John Rutherford

FL • R • No

G
George Santos

NY • R • No

D
David Schweikert

AZ • R • No

P
Pete Sessions

TX • R • No

M
Michelle Steel

CA • R • No

C
Chris Stewart

UT • R • No

M
Michael Waltz

FL • R • No

B
Brad Wenstrup

OH • R • No

B
Brandon Williams

NY • R • No

Not Voting (19)

C
Cori Bush

MO • D • Not Voting

R
Ruben Gallego

AZ • D • Not Voting

D
Dean Phillips

MN • D • Not Voting

B
Bill Posey

FL • R • Not Voting

G
Gregorio Sablan

MP • D • Not Voting