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Kennedy, colleagues introduce resolution to stop Biden admin from transferring student loan debt to taxpayers

John Kennedy

“The president is forcing Americans who paid off their debt, worked through college, went to a trade school or chose not to go to school to foot the bill for those who haven’t paid back their personal loans.”

WASHINGTON – Sen. John Kennedy (R-La.) today joined Sens. Bill Cassidy (R-La.), John Cornyn (R-Texas), Joni Ernst (R-Iowa) and more than 30 other Republicans in introducing a joint resolution of disapproval under the Congressional Review Act (CRA) to stop the Biden administration’s Department of Education from implementing a rule to cancel student loan debt for millions of Americans.

“President Biden’s promise to cancel student debt is a woke fairy tale: The federal government doesn’t have the power to magically make debt disappear. The president is forcing Americans who paid off their debt, worked through college, went to a trade school or chose not to go to school to foot the bill for those who haven’t paid back their personal loans. Not only is this plan morally wrong, it will fan the flames of inflation and make necessities even more unaffordable for hardworking Louisianians,” said Kennedy.

The Department of Education’s plan would transfer up to $20,000 per borrower to taxpayers, costing an estimated $400 billion.

The Biden administration announced this policy, which the Government Accountability Office classified as a rule, before the Supreme Court issued a decision on the cases Biden v. Nebraska and Department of Education v. Brown.

“President Biden’s student loan scheme does not ‘forgive’ debt, it just transfers the burden from those who willingly took out loans to those who never went to college, or sacrificed to pay their loans off. Where is the relief for the man who skipped college but is paying off his work truck, or the woman who paid off her loans and is now struggling to afford her mortgage? This resolution prevents these Americans, whose debts look different from the favored group the Biden administration has selected, from picking up the bill for this irresponsible and unfair policy,” said Cassidy.

Rep. Bob Good (R-Va.) introduced the companion CRA resolution in the House of Representatives.

Sens. John Barrasso (R-Wyo.), Marsha Blackburn (R-Tenn.), John Boozman (R-Ark.), Mike Braun (R-Ind.), Ted Budd (R-N.C.), Shelley Moore Capito (R-W.Va.), Tom Cotton (R-Ark.), Kevin Cramer (R-N.D.), Mike Crapo (R-Idaho), Steve Daines (R-Mont.), Deb Fischer (R-Neb.), Lindsey Graham (R-S.C.), Chuck Grassley (R-Iowa), Bill Hagerty (R-Tenn.), Josh Hawley (R-Mo.), John Hoeven (R-N.D.), Cindy Hyde-Smith (R-Miss.), Ron Johnson (R-Wis.), James Lankford (R-Okla.), Cynthia Lummis (R-Wyo.), Roger Marshall (R-Kan.), Mitch McConnell (R-Ky.), Markwayne Mullin (R-Okla.), James Risch (R-Idaho), Mitt Romney (R-Utah), Marco Rubio (R-Fla.), Eric Schmitt (R-Mo.), Rick Scott (R-Fla.), Tim Scott (R-S.C.), John Thune (R-S.D.), Thom Tillis (R-N.C.), Tommy Tuberville (R-Ala.), Roger Wicker (R-Miss.) and Todd Young (R-Ind.) also joined the resolution.

Full text of the CRA resolution is available here.