Dark Money Groups Are Scheming to Bring Down Biden's Student Debt Relief Plan

Republican attorneys general and corporate advocacy groups are exploring ways to sue the Biden administration over its newly announced plan to cancel $10,000 in federal student loan debt for most borrowers, hoping the conservative-packed U.S. judiciary will strike down the executive action and deny badly needed relief to around 40 million people.

Shortly after President Joe Biden announced his debt forgiveness plan, the Job Creators Network — a dark money organization representing business groups and executives —that it is “weighing its legal options to block President Biden’s illegal student loan bailout,” calling the move “executive overreach.”

Americans for Prosperity, an organization founded by billionaire Charles Koch and his late brother David, also expressed outrage at the Biden administration’s plan,that “this shameless handout will only push education costs even higher, cause people to take out even bigger loans, and set a dangerous precedent that the government will just come along and erase their debt in the future.”

The key question vexing right-wing groups and officials, though, is whether any party actually has standing to sue over the debt relief plan, the product of years of sustained grassroots activism.published in April argues that essentially no one — not taxpayers, not former borrowers, not state governments, not loan servicers, and not Congress — has standing under current law and legal precedent to challenge student debt cancellation in court.

Ken Paxton, the Republican attorney general of Texas and one of several GOP officials seeking ways to tank the debt relief plan, acknowledged the standing obstacle in an appearance on the right-wing channel“I don’t think this is constitutional,” said Paxton. “We have to find a way in the state of Texas to find standing, or we need individuals to sue that have damages as a result of this.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Key GOP rep fears student debt relief will undercut military recruitingThe head of the House Republican Policy Committee connected student loan forgiveness to military enlistments. That's deeply problematic. MaddowBlog Um. More inflation for us all! I rest my case😡 MaddowBlog It's astonishing the knots these guys will tie themselves into will trying to argue against anything that might help lower income people or take any money at all from really rich people. And poor people can't wait to keep voting for them all. MaddowBlog
Source: MSNBC - 🏆 469. / 51 Read more »

GOP, Dems seek political boost from student loan debt planTo Democrats championing the White House’s student loan forgiveness plan, it was the long-awaited delivery of one of President Joe Biden’s campaign promises.
Source: wjxt4 - 🏆 246. / 63 Read more »