By Jamie Merisotis, July 24, 2015.

Much is riding on the outcome of a months-long Congressional debate over re-authorization of the Higher Education Act, the sweeping law that governs colleges and universities. The law has been in place for five decades and through many rounds of re-authorization, but this will be its most consequential to date. Our ability to make the right changes will determine not only the future of millions of students, but also America’s chances of continuing to prosper and compete on a global scale.

The reason is, simply put, talent. The U.S thrived in the 20th century because we had a critical mass of people with the skills and knowledge to meet the economic demands of that era. Today, in contrast, we’re falling behind.

Labor economists predict that two-thirds of jobs will require postsecondary degrees or credentials by 2020, and currently only 40 percent of Americans have reached that level of educational attainment. What’s more, we lag behind 10 other developed nations in postsecondary attainment rates, according to the Organisation for Economic Co-operation and Development.

Read the full article on Huffington Post.