The proposal pays for low loan rates by closing "a loophole that allows the rich to avoid taxes," Reid said.
Senate Finance Committee Chairman Max Baucus (D-Mont.) last week announced that the U.S. Patent and Trademark Office (USPTO) has ruled that it would not allow anyone to trademark Montana's state slogan, "The Last Best Place."
"To try to auction off one of our most beloved sayings is just plain wrong. 'The Last Best Place' belongs to all Montanans and is not for sale," Baucus said.
Rubio's spokesman said they hope to "pass something this summer in time for kids who plan to go to school."
The Senate meets at 2 p.m. to resume consideration of S. 2343, the Stop Student Loan Interest Rate Hike Act.
Senate Democrats will be looking to move the bill ahead this week in order to provide a viable alternative to a House-passed bill. The Senate bill keeps the interest rate on federally subsidized student loans at 3.4 percent for another year, and pays for it by capturing more payroll taxes from high-income earners.
A Senate subcommittee will meet Monday in Ohio to examine a state voting law that Democrats say could make it more difficult to vote.
Sen. Dick Durbin (D-Ill.) will preside over this hearing, the third over the last several months to press the issue of how state laws might make it difficult for minorities, students, the elderly and others to vote.
Sen. Bill Nelson (D-Fla.) showed a reserved openness to backing Sen. Marco Rubio's (R-Fla.) Republican alternative to the DREAM Act.
"If that's the only thing we can pass, then I'm certainly open to it," Nelson said Thursday at the University of South Florida, according to The Associated Press. "But that's not going to solve the problem because once the child — or now-grown student — gets through, what's going to happen to them? Are they going to sit here in legal limbo? Are they going to have to go back to their country of origin and get in line to then come back? Well, at that point they think of themselves as American."
Sen. Mark Kirk (R-Ill.) is leaving the rehabilitation facility where he had most recently been recovering from a stroke he suffered in January.
He will continue his recovery at the Rehabilitation Institute of Chicago while living at home.
Kirk was hospitalized in January after suffering a ischemic stroke. He subsequently underwent surgery to relieve brain swelling as a result of the stroke.
U.S. Secret Service Director Mark Sullivan told Senate Judiciary Committee ranking member Chuck Grassley (R-Iowa) this week that he does not believe any sensitive information was leaked as a result of the prostitution scandal that has prompted calls for investigation into both the Secret Service and the Defense Department.
"The Secret Service has no information to suggest that sensitive information was compromised during the Colombia trip," Sullivan wrote in a May 1 letter that Grassley released Wednesday. "The Secret Service can speak to the investigation into the conduct of Secret Service personnel.
Senate Majority Whip Dick Durbin (D-Ill.) will preside over a Senate subcommittee field hearing Monday that explores the extent to which state voting laws make it more difficult to vote, and he will focus on a new Ohio law, HB 194.
It is one of several state laws that Durbin and other Democrats say restrict the right to vote. He said that law hampers early voting by reducing the number of early voting days from 35 to 17 and makes it harder to vote absentee.
Sen. Sherrod Brown (D-Ohio) accused Republicans of not arguing in "good faith" on debating how to keep college student loan interest rates from doubling.
Brown's comments come less than a week after the House passed legislation aimed at keeping the interest rate on Stafford student loans at 3.4 percent. The rate is set to double to 6.8 percent on July 1 if legislators don't pass a bill stopping the increase. After some conservatives initially expressed opposition to keeping the rate from doubling, the House passed legislation stopping the rate increase.
Ahead of passing that legislation, conservative groups pressured Republicans to avoid dealing with the interest rate. Democrats strongly criticized that pressure and President Obama also called out Rep. Virginia Foxx (R-N.C.), who said that she had "very little tolerance" for people who complain about graduating with large college tuition debt.
"The House has shown, I think, their less-than-real interest at keeping these interest rates at 3.4," Brown said Wednesday in a conference call. "We know the initial reaction of the House from several of their spokespeople, several of their most conservative House members was just to let the interest rate double, so I don't think they're acting in particularly good faith here."