House GOP passes resolution overturning student loan cancellation; Biden vows veto [View all]

[Eugene]

Source: Associated Press

House GOP passes resolution overturning student loan cancellation; Biden vows veto

Collin Binkley
May 24, 2023

WASHINGTON (AP) — House Republicans passed a resolution on Wednesday that would overturn President Joe Biden’s student loan cancellation plan, but the White House has vowed to veto it and the plan remains on hold as the Supreme Court considers its fate.

It adds to the GOP’s ongoing attack on Biden’s one-time student loan cancellation, which was halted in November in response to lawsuits from conservative opponents. The Supreme Court is now weighing the plan after hearing arguments in February. A decision is expected in the coming weeks.

Biden’s plan would cancel up to $20,000 in federal student loans for 43 million Americans. About 26 million had applied for the relief before courts intervened.

The latest Republican challenge employs the Congressional Review Act, which allows Congress to undo recently enacted executive branch regulations. Passing a resolution requires a simple majority in both chambers, but overriding a presidential veto requires two-thirds majorities in the House and Senate.

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Read more: https://apnews.com/article/student-loans-debt-cancellation-forgiveness-biden-congress-ebc6a1cbc98a3fb587c8a8acff35a92a