During an appearance in Wisconsin, President Biden said 10 million borrowers could see debt relief of at least $5,000. The plan could help rally support among young voters.
President Biden on Monday announced a large-scale effort to help pay off federal student loans for tens of millions of American borrowers, seeking an election-year boost by returning to a 2020 campaign promise that was blocked by the Supreme Court last year.
Mr. Biden announced the plan in Madison, Wis., the capital of a critical swing state and a college town that symbolizes the president’s promise to make higher-education affordability a cornerstone of his economic agenda.
The original plan relied on a law called the HEROES Act, which the administration argued allowed the government to waive student debt during a national emergency like the Covid pandemic.
Neal McCluskey, the director of the Center for Educational Freedom at the Cato Institute, called the new plan “dangerous policy” that is unfair to taxpayers and would cause colleges and universities to raise their prices.
“The Constitution gives Congress, not the president, the authority to enact law, and the Supreme Court has already struck down a unilateral, mass student debt cancellation scheme by the Biden administration,” he said.
Members of Mr. Biden’s administration fanned out across the country on Monday to talk about the new plan, betting that it will rally support among voters who were disappointed that the court blocked the first one, which would have eliminated up to $20,000 in debt for tens of millions of borrowers.
The original article contains 1,371 words, the summary contains 225 words. Saved 84%. I’m a bot and I’m open source!
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President Biden on Monday announced a large-scale effort to help pay off federal student loans for tens of millions of American borrowers, seeking an election-year boost by returning to a 2020 campaign promise that was blocked by the Supreme Court last year.
Mr. Biden announced the plan in Madison, Wis., the capital of a critical swing state and a college town that symbolizes the president’s promise to make higher-education affordability a cornerstone of his economic agenda.
The original plan relied on a law called the HEROES Act, which the administration argued allowed the government to waive student debt during a national emergency like the Covid pandemic.
Neal McCluskey, the director of the Center for Educational Freedom at the Cato Institute, called the new plan “dangerous policy” that is unfair to taxpayers and would cause colleges and universities to raise their prices.
“The Constitution gives Congress, not the president, the authority to enact law, and the Supreme Court has already struck down a unilateral, mass student debt cancellation scheme by the Biden administration,” he said.
Members of Mr. Biden’s administration fanned out across the country on Monday to talk about the new plan, betting that it will rally support among voters who were disappointed that the court blocked the first one, which would have eliminated up to $20,000 in debt for tens of millions of borrowers.
The original article contains 1,371 words, the summary contains 225 words. Saved 84%. I’m a bot and I’m open source!