A r c h i v e d I n f o r m a t i o n

   FOR RELEASE                              Contact:  Kathryn Kahler    September 27, 1995                                 (202) 401-3026

Statement by U.S. Secretary Richard W. Riley Regarding Budget Reconciliation Provisions Approved by the Senate Labor and Human Resources Committee to Permit Student Loan Guaranty Agencies to Claim Profits Earned from Federal Reserve Funds

We are now entering the twilight zone -- a Senate committee, in the name of balancing the budget, has voted to give a little- known special interest $1.8 billion in taxpayers' money.

Picking the public's pocket is shameful. The Senate should not allow it.