This is historical material “frozen in time”. The website is no longer updated and links to external websites and some internal pages may not work.
The White House
Office of the Press Secretary
For Immediate Release
July 06, 2012
Statement by the Press Secretary on H.R. 4348
On Friday, July 6, 2012, the President signed into law:
H.R. 4348, the "Moving Ahead for Progress in the 21st Century Act" or "MAP-21", which reauthorizes taxes that support the Highway Trust Fund through September 30, 2016, and authority to make expenditures from that Fund through September 30, 2014, and makes major reforms to surface transportation programs; reauthorizes the National Flood Insurance Program (NFIP) through September 30, 2017, and makes major reforms to the NFIP; and extends for one year, until July 1, 2013, the current interest rate of 3.4 percent on all new subsidized Federal Direct Stafford Loans for undergraduate students.