Sen. Bill Cassidy, R-La., discusses debt ceiling negotiations as President Biden gears up to meet with lawmakers.to forgo more than $400 billion in federally backed student loan debt.
"At a time when students need relief the most, Republicans are working to upend student loan forgiveness that started under Trump and now continues under President Biden for more than 40 million borrowers," said Rep. Mark Takano, D-Calif. Biden's plan was blocked by litigation, but the Supreme Court is expected to consider the matter later this summer.
"In fact, he even admitted that to CNN host Anderson Cooper in February 2021 by saying, ‘I don’t think I have the authority to do it by signing with a pen,’" said Rep. Bob Good, R-Va., the sponsor of the resolution. Rep. Virginia Foxx, R-N.C., argued on the floor that the Biden plan is regressive, as it helps high-income earners at the expense of low-income earners.