Biden’s student loan forgiveness plan repealed by House.

House Passes Resolution to Repeal Biden’s Student Loan Plan

A resolution to repeal President Joe Biden’s plan to cancel a wide swath of federally held student loans passed the House of Representatives Wednesday in a 218-203 vote.

House Joint Resolution 45 invokes the Congressional Review Act to repeal the president’s effort to cancel up to $20,000 in student loans for borrowers who make less than $125,000 per year.

MAKE OR BREAK: THIS WEEK INTO NEXT IS CRITICAL WINDOW FOR DEBT CEILING NEGOTIATIONS

The bill passed with bipartisan support and now heads to the Senate, where a simple majority would send it to the president’s desk. Biden has vowed to veto the bill. Two Democrats — Reps. Jared Golden (D-ME) and Marie Gluesenkamp Perez (D-WA) — joined with all Republicans in passing a rebuke of Biden’s signature measure.

During a floor debate, Republicans and Democrats traded barbs over the cost of the student loan program. Republicans, led by Education and Workforce Committee Chairwoman Virginia Foxx (R-NC), said the cost of the loans was being transferred to taxpayers that paid off their debts or never attended college. Democrats, led by Rep. Bobby Scott (D-VA), repeatedly highlighted the number of borrowers in each congressional district that would benefit from the forgiveness plan.

“Congress must reclaim its power and act today to stop the unilateral action of President Biden that is exacerbating the higher education financial crisis,” Rep. Bob Good (R-VA), the sponsor of the resolution, said on the House floor. “This bill is needed to help steer our government spending in a more responsible direction.”

The student loan forgiveness plan has proved to be unpopular with the centrist members of the president’s own party, and with a narrow Democratic majority in the Senate, the resolution stands a fighting chance of passing. Sens. Joe Manchin (D-WV), Kyrsten Sinema (I-AZ), and John Tester (D-MT) have shown a willingness to buck the Democratic Party line on several Congressional Review Act resolutions.

Despite the possible intraparty dispute, Democrats in the House opposed to the resolution.

CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER

“Education is the best investment we can make to give everyone the opportunity to be successful in school and in life, but this Congress, we’ve repeatedly seen how willing our colleagues on the other side of the aisle are to put politics over people and special interests over students and this CRA is no different,” Rep. Suzanne Bonamici (D-OR) said. “So let’s set the record straight. President Biden’s loan forgiveness plan helps a lot of borrowers with debt but no degree, many are borrowers who were defrauded by their schools, or who had to take on other responsibilities and couldn’t complete their education.”

Regardless of the bill’s fate, the administration’s student loan forgiveness plan stands in legal limbo until the Supreme Court issues a ruling on its legality. The court heard oral arguments in the case in late February and a ruling is expected in the coming weeks.

What You Need to Know

• The House of Representatives passed a resolution to repeal President Biden’s plan to cancel federally held student loans.
• The resolution invokes the Congressional Review Act to repeal the president’s effort to cancel up to $20,000 in student loans for borrowers who make less than $125,000 per year.
• The bill passed with bipartisan support and now heads to the Senate, where a simple majority would send it to the president’s desk. Biden has vowed to veto the bill.
• The student loan forgiveness plan has proved to be unpopular with the centrist members of the president’s own party, and with a narrow Democratic majority in the Senate, the resolution stands a fighting chance of passing.
• Regardless of the bill’s fate, the administration’s student loan forgiveness plan stands in legal limbo until the Supreme Court issues a ruling on its legality.

Make your voice heard: Do you support or oppose the repeal of President Biden’s student loan plan? Let us know in the comments below.