Republicans Admit Biden Can Cancel Student Debt
A new bill tries to claw back authority given to the executive branch on debt cancellation.
BY DAVID DAYEN APRIL 28, 2022
Five Senate Republicans confirmed that President Biden has the authority to suspend, defer, or cancel student debt, when they filed a bill on Wednesday to block Biden from carrying that out.
The bill, known as the Stop Reckless Student Loan Actions Act of 2022, would make direct changes to one of the statutes Biden can use for the purposes of debt cancellation or deferral. It also states that the executive branch may not “suspend or defer” student loan payments for longer than 90 days or for individuals who make more than 400 percent of the poverty line. The executive branch, under the bill, also may not “cancel the outstanding balances,” whether as part of a declared emergency or “through any type of executive or regulatory action.”
There would be no need for such a bill if there was not already authority granted by Congress to the executive branch to suspend, defer, or cancel student loan payments. The bill represents an effort to claw that authority back, or at the very least clarify the statute to remove all doubt.
https://prospect.org/education/republicans-admit-biden-can-cancel-student-debt/?vgo_ee=gLQIdMAUEJu%2F94MEutwfLxwUnRnlmwiuCIJkd9A7F3A%3D
Thune is joined by Sens. Bill Cassidy, R-La., Richard Burr, R-N.C., Mike Braun, R-Ind., and Roger Marshall, R-Kan., in introducing the bill.
The hypocrisy from these five is just amazing and the media is just fixated on Biden and the $50,000.00 dollar remark when this bill was being introduced by these jerks and the media not saying one word about this BS bill.....
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