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Senate Passes Resolution Overturning Biden’s Student Loan Relief Program

The Senate on Thursday passed a blocking bill, largely in line with party lines. President Joe Biden’s Student Debt Relief Program After this action clears a significant procedural hurdle within the chamber.

The vote to pass the bill came a day after senators also voted by a narrow margin, confirming the continuation of a bill that would end Biden’s debt relief program and end the administration’s suspension of federal student loan payments. was done. Several moderate senators, including Democrats Joe Manchin of West Virginia and Jon Tester of Montana, and independent Senator Kirsten Cinema of Arizona, sided with Republicans in the final vote and the motion to adopt the bill. voted yes.

It took a simple majority of senators to pass the bill and send it to Biden’s desk. However, the White House warned: Management policy statement Last month, Mr. Biden announced that he would veto the resolution.

“This resolution is an unprecedented attempt to undermine a historic economic recovery and deprive more than 40 million hardworking Americans of much-needed student debt relief,” the statement said. .

of The House passed the bill Last week’s poll of 218 to 203 largely followed party lines, with two Democrats, Rep. Jared Golden of Maine and Rep. I joined and supported this bill.

The resolution would end the government’s next program. Cancel loans up to $10,000 Borrowers whose income is below a certain level will be given up to $20,000 for recipients of Pell subsidies. The resolution would also end the moratorium on pandemic-era loan payments and interest accruals.

But the biggest test for Biden’s student-loan bailout plan may still lie ahead. The conservative-majority U.S. Supreme Court Judgment to be handed down in two lawsuits over Biden’s debt relief plan this month.

of Debt ceiling regulation law It was negotiated by Mr. Biden and House Speaker Kevin McCarthy (Republican, California). passed the House of Representatives will head to the Senate on Wednesday resume suspended federal student loan payments at the beginning of the pandemic. If the debt bill is signed, payments will resume at the end of August. But despite the Republican-led effort to include that provision, the debt bill does not block Mr. Biden’s debt forgiveness plan.

Republicans have argued that the Biden administration’s student debt forgiveness program burdens taxpayers and is unfair to students who have paid off loans or skipped college. The bipartisan Congressional Budget Office estimated that abolishing the program would reduce the federal deficit by about 30%. $315 billion in the next decade.

On the other hand, the Biden administration claimed in a statement The cost of higher education has become a “lifelong burden” for low- and middle-income Americans, so debt forgiveness would provide borrowers “a breathing room” after the pandemic and associated economic crisis have passed.

https://www.nbcnews.com/politics/congress/senate-vote-block-bidens-student-debt-relief-program-rcna87223 Senate Passes Resolution Overturning Biden’s Student Loan Relief Program

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