On Thursday, the U.S. Senate made a bold move against President Biden’s plan to cancel up to $20,000 in student debt for federal borrowers making under $125,000 a year. This heroic measure passed by a vote of 52-46, with Democrat Senators Joe Manchin (D-WV) and Jon Tester (D-MT), as well as Independent Senator Kyrsten Sinema, seeing the value in this resolution.
BREAKING: The U.S. Senate has PASSED a measure that BLOCKS Joe Biden’s student debt bailout.
We all knew that student loan forgiveness was NEVER happening, another promise failed by Joe Biden!https://t.co/FxhnglWw7m
— Proud Elephant 🇺🇸🦅 (@ProudElephantUS) June 1, 2023
This legislation will immediately end the COVID-era student-loan payment pause, which is a much-needed shift in the right direction. President Biden has stated that he will reject the measure if it reaches his desk. Still, it is essential to acknowledge that his proposal would cost taxpayers $400 billion if passed, putting an unwarranted burden on hardworking Americans.
Fiscally responsible lawmakers such as Senator John Thune (R-SD) believe that it is entirely unfair to ask individuals who worked hard to pay off their loans or didn’t pursue college at all to take on the student debt burden for others who chose to take out loans. Senator Thune rightly stated on the Senate floor before the vote, “It’s something of a slap in the face to Americans who chose more affordable college options or worked their way through school to avoid taking on student loans, or whose parents scrimped and saved to put them through college.”
It’s comforting to know that both chambers of Congress have passed this resolution under the Congressional Review Act, which allows Congress to reject executive branch policy if both the House and Senate pass a resolution disapproving of that policy. Congress is looking out for the well-being of American taxpayers and ensuring that there is fairness in repaying student loans.
As expected, President Biden plans to veto this resolution, rejecting the well-being of millions of Americans. The White House even had the audacity to make this statement, “Americans should be able to have a little more breathing room as they recover from the economic strains associated with the COVID-19 pandemic.” Sorry, Mr. President, but hard-working Americans already have breathing room when they responsibly pay off their loans.
Hopefully, Congress can override President Biden’s veto with a two-thirds majority, making sure this responsibility falls where it should and the hardworking American taxpayers are not burdened with canceling student debt payments for those who chose to take on such debt.
Source: Trending Politics