A presidential veto is expected.
The Senate passed legislation that overturns the student debt relief plan established by President Biden. That program would give 40 million loan recipients up to $20,000 in loan forgiveness. Even with the Senate’s actions, the president’s loan forgiveness plan is still before the Supreme Court, which appeared skeptical during oral arguments earlier this year.
Senator Joe Manchin of West Virginia said the nation “simply cannot afford to add another $400 million to the national debt.” He added, “There are already more than 50 existing student loan repayment and forgiveness programs aimed at attracting individuals to vital service jobs, such as teachers, health care workers, and public servants. This Biden proposal undermines these programs and forces hard-working taxpayers who already paid off their loans or did not go to college to shoulder the cost.”
Senator Bill Cassidy of Louisiana said, “Our resolution prevents average Americans, 87 percent of whom currently have no student loans, from being stuck with a policy that the administration is doing not to be fair to all, but rather to favor the few.”
The House had already passed the bill, so it now goes to President Biden’s desk. He has already pledged to veto the legislation.
As the Lord Leads, Pray with Us…
- For justices of the Supreme Court as they deliberate the case regarding the president’s student loan forgiveness.
- For the president and his advisors as they propose debt relief programs.
Sources: The Hill, CNN
