Senate Crushes Biden’s $400B Loan Bailout: Common Sense Triumphs in DC

After weeks of debate, the Senate voted 52 to 46 to reject President Biden's plan to forgive up to $400 billion in student loans. Manchin, Tester, and Sinema voted against the loan bailout, which would have affected federal borrowers with annual income of $125,000.

Senator John Thune of South Dakota was one of the dissenters. He argued that the proposal would unfairly affect students who took advantage of more affordable education options and those whose parents contributed to their education. He also noted that hard-working individuals should not have to pay back loans twice.

Senator Patty Murray of Washington criticized Republicans who voted to reduce Joe Biden's budget proposal, claiming that they would do everything in their capacity to prevent the country from going bankrupt. It is appalling that some Democrats would do anything to gain short-term political victories by selling the future of the country.

The legislation was created through the Congressional Review Act. It allows Congress to disapprove of executive branch policies if both the Senate and House pass resolutions disapproving of such policies. Despite the bill's passage, it is not likely that Congress can secure enough support to override the expected veto of Biden.

The Senate's rejection of Biden's plan to forgive student loans is a great relief. It is time for the country to focus on making college education more affordable. This will allow students to avoid having to put their futures on hold and pay off their loans.

Source: Townhall

Written by Staff Reports

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