Thursday, May 30, 2024

Kennedy-backed resolution to block Biden admin from transferring student debt to taxpayers passes Senate

by BIZ Magazine

WASHINGTON – Sen. John Kennedy (R-La.) today voted to pass a joint resolution of disapproval under the Congressional Review Act (CRA), led by Sens. Bill Cassidy (R-La.), John Cornyn (R-Texas) and Joni Ernst (R-Iowa), to stop the Biden administration’s Department of Education from implementing a rule that burdens taxpayers with an estimated $400 billion in student loan debt that they never agreed to incur.

The Senate passed the resolution by a bipartisan vote of 52-46, and it now goes to President Biden’s desk for consideration.

“Today the Senate voted to reverse President Biden’s misguided rule to saddle American taxpayers with hundreds of billions of dollars in student debt that doesn’t belong to them. The White House’s reckless policy is patently unfair to Louisianians who work hard and pay their debts, and it fuels already sky-high inflation,” said Kennedy.

The Department of Education’s plan would transfer up to $20,000 of debt per student loan borrower to taxpayers.

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

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.

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