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AP sources: Tentative deal on student loans, roads

House Speaker John Boehner of Ohio, center, joined by other House GOP leaders, gestures during a news conference on Capitol Hill in Washington, Wednesday, June 27, 2012, following a political strategy session. From left are, House Majority Leader Eric Cantor of Va., Rep. Cathy McMorris Rodgers, R-Wash., Boehner, Rep. Renee Ellmers, R-NC, and Rep. Bill Flores, R-Texas. (AP Photo/J. Scott Applewhite)

House Speaker John Boehner of Ohio, center, joined by other House GOP leaders, gestures during a news conference on Capitol Hill in Washington, Wednesday, June 27, 2012, following a political strategy session. From left are, House Majority Leader Eric Cantor of Va., Rep. Cathy McMorris Rodgers, R-Wash., Boehner, Rep. Renee Ellmers, R-NC, and Rep. Bill Flores, R-Texas. (AP Photo/J. Scott Applewhite)

WASHINGTON (AP) ? Congressional leaders have reached tentative deals that would prevent a doubling of student loan interest rates and revamp the nation's transportation programs, congressional officials said Wednesday. If completed, the compromises would resolve two vexing issues on which lawmakers face weekend deadlines for action.

House and Senate leaders have tentatively agreed to a one-year extension of today's 3.4 percent interest rates for subsidized Stafford loans, said a congressional Republican who spoke on condition of anonymity to reveal the issue's status. The measure ? which would affect 7.4 million students projected to get new loans starting July 1 ? is the same package that Senate Majority Leader Harry Reid, D-Nev., and Senate Minority Leader Mitch McConnell, R-Ky., said Tuesday they had crafted between themselves.

At the same time, congressional leaders have tentatively agreed on a two-year bill to overhaul federal highway programs, Senate aides said. The government's authority to spend money on highways, bridges and transit systems expires Saturday, as does its ability to levy gasoline and diesel taxes. They spoke on condition of anonymity because the deal wasn't final.

Sen. James Inhofe, R-Okla., top Republican on the Senate Environment and Public Works Committee, said bargainers would drop a requirement that the government approve the proposed Keystone XL oil pipeline that is to run from Canada to Texas. House Republicans had pushed for inclusion of the Keystone provision, but the White House threatened to veto the bill if it was included.

Inhofe said another GOP provision blocking the federal government from regulating the toxic ash generated by coal-fired power plants would also be jettisoned.

House Republicans won concessions from the Senate on environmental reviews of highway projects, Senate aides and environmentalists said.

Critics have complained that requirements for environmental impact statements before highway construction projects can proceed have caused unnecessary delays and driven up costs. Under the agreement, the average time it takes to complete a highway project would drop from 15 years to about eight years, they said.

The agreement also makes other kinds of transportation programs eligible for the same pool of money that funds transportation enhancements, which means there will probably be less money to go around for biking and walking projects, they said.

The aides said they were working to put the agreement into legislative language, which must happen before House and Senate leaders formally sign off on the deal.

Congressional leaders are talking about combining the highway and student loan measures into a single bill to reduce potential procedural obstacles, and hope to vote final approval this week. Lawmakers hope to then leave Washington for a July 4 recess.

Earlier Wednesday, House Speaker John Boehner, R-Ohio, told reporters that lawmakers were moving toward an agreement on the highway and student loan issues.

Boehner made his remarks a day after Reid and McConnell said they'd struck a bipartisan agreement that the White House later said it supported. Those statements put pressure on Boehner to accept the deal, which if enacted would avoid antagonizing millions of students and their parents in an election year.

President Barack Obama highlighted the student loan issue during visits to college campuses this spring amid a campaign year in which the struggles of many families to cope with the limp economy has been a defining issue. Hoping to prevent him from using the dispute in the fall campaign, GOP presidential challenger Mitt Romney said in April that he backed an extension of the lower rates. GOP congressional leaders said the same.

In recent weeks, the key dispute has been over how to pay the student loan bill's $6 billion price tag.

Under the agreement, the government would raise $5 billion by changing the way companies calculate the money they have to set aside for pensions. That change would make their contributions more consistent from year to year, in effect reducing their payments initially and lowering the tax deductions they receive for their pension contributions.

Another $500 million would come from increasing the fees companies pay for the government to insure their pension plans, linking those fees to inflation.

In addition, $1.2 billion would be saved by limiting federal subsidies of Stafford loans to six years for undergraduates.

The White House threatened to veto a House-passed bill extending the lower interest rates because it was paid for by cutting a preventive health care program that Obama helped create. Republicans blocked a Democratic version in the Senate paid for by boosting taxes on owners of some privately held corporations.

Congressional leaders are discussing combining the student loan bill with the highway legislation. Any extra funds raised by the student loan measure could help pay for the highway legislation.

The last long-term transportation bill expired in 2009. Congress has kept programs going through a series of nine short-term extensions.

The bill would overhaul transportation programs, giving states more flexibility in how they spend federal money, step up the pace of road construction by shortening environmental reviews, impose new safety regulations and boost funding for a federal loan guarantee program aimed at increasing private investment in highway and other transportation construction projects.

The Senate passed a bipartisan, $109 billion transportation bill in March. House Republicans were unable to pass their own comprehensive transportation bill because of divisions in their party.

Instead, they passed a three-month extension of current programs coupled with controversial provisions that would have required the government to approve the Keystone XL oil pipeline and blocked the Environmental Protection Agency from regulating the toxic ash created by coal-burning power plants.

Associated Press

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Canada Dry Gingerale

In Kerala ginger is the cure for everything. as a child my mom would give me Canada Dry Gingerale when I was sick. I was often ill. I had bad asthma and I had an ventricular septal defect so I had a lot of Gingerale . It is still my favorite drnk!

THE INNOVATORS A toast to the inventor of Canada Dry The Globe and Mail Published Wednesday, Jun. 27 2012, 4:42 PM EDT Last updated Wednesday, Jun. 27 2012, 6:05 PM EDT In this month's edition of The Innovators, we examine the life and times of John J. McLaughlin, the inventor of Canada Dry Pale Ginger Ale. Click on the arrow to the right to read his biography, to scroll through photos and to interact with Canada Dry Bottling Plant, located in Silver Spring, Md.

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SoftLayer Replaces Budgeting Software with Alight Planning

SoftLayer has achieved significant benefits by replacing their legacy budgeting and planning software with the Alight Planning solution. The full story was featured in a webinar earlier this month with the Institute of Management Accountants entitled: Case Study: Measuring the ROI of Planning Software.

Rand Heer, Alight Planning CEO, comments on the webinar, ?We were pleased to have over 800 finance professionals attend the IMA webinar earlier this month. The SoftLayer success story is generating a lot of buzz in the industry and third-party analyst firms are expressing interest in developing an in-depth case study that would verify the ROI which is estimated at 50x.?

SoftLayer is the global cloud infrastructure platform that operates 13 data centers in the US. Given the rapid growth in this sector, the annual budgeting process was insufficient; SoftLayer took a dynamic, continuous approach to planning throughout the year. SoftLayer first replaced spreadsheets with Centage?s Budget Maestro software package. In 2009, the finance team began a search to replace Centage with a solution that would enable a more intuitive and integrated driver-based planning model and rapid scenario analysis in order to support the rapid growth.

?While Centage was a step up compared to planning in spreadsheets, we could not create an integrated driver-based model, ?said Gary Kinman, Vice President of Finance and Analytics at SoftLayer, ?Since sales units were stored in an isolated module, sales units could not be used to drive capital expenses or operations headcount. Of course, we could drive revenue in Centage with sales units, but with Alight Planning, our driver-based model is now fully integrated. Analysis to adjust volume or pricing of a certain product that required 30 minutes in Centage was taking 3 minutes in Alight Planning. Our ability to quickly perform analysis on-the-fly with Alight Planning is leading to better decisions. We now have a better feel for the direction to take as a company.?

?The ROI Calculator developed earlier this year is generating some interesting conclusions about the state of budgeting and planning software,? said Ben Lamorte of Alight Planning. ?Gary and I reflected on life before and after Alight Planning leading to a documented efficiency savings of about $100,000 over the last three years associated with moving to Alight Planning. The $100,000 is a result of doing the same things SoftLayer did with Centage, but doing them faster with integrated driver-based panning ? we call these type 1 benefits. Benefits of over $3M were associated with introducing new planning processes that were not even attempted prior to Alight Planning. These type 2 benefits included optimizing cash management and analyzing profitability by location. To our knowledge, SoftLayer?s implementation of Alight Planning represents the largest ROI documented in the history of mid-market planning software.?

SoftLayer is the global cloud infrastructure platform provider built for Internet scale. Headquartered in Dallas, the company operates 13 data centers in the US, Asia and Europe; worldwide network points of presence; and a high-speed global network for secure, low-latency communications. SoftLayer?s modular architecture, full-featured API and sophisticated automation create a flexible platform that seamlessly integrates physical and virtual systems. With 100,000 servers under management, SoftLayer is the largest privately held Infrastructure-as-a-Service (IaaS) provider in the world, with a portfolio of 25,000 leading-edge customers from Web startups to global enterprises.

Alight Planning is a true driver-based financial planning and reporting software package that automates business modeling for more accurate strategic plans, revenue projections, budgets and rolling forecasts. Its unique architectures and intuitive interfaces provide enable finance teams to rapidly build any driver-based planning model, while delivering traditional budgeting and planning structures such as line item detail, integrated financial statements and multiple-user security. Rapidly deployed and IT-independent, Alight Planning has been embraced by organizations of all sizes. Alight has over 300 customers including Kaiser Permanente, British Telecommunications, Pittsburgh Mercy Health, Sierra Nevada Brewing Company, and Verizon Wireless. For more information about Alight Planning, visit http://www.AlightPlanning.com or call 800-960-7717.

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Video: Are Bain attacks against Romney working?

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Video: More on Romney?s specific generalities

Bone marrow donors soon may be compensated

??Certain bone marrow donors could soon be compensated for their life-saving stem cells after federal officials declined to take the matter to the U.S. Supreme Court, allowing a lower court order to become law.

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