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Burr Statement on CBO Cost of Biden’s Student Loan Debt Cancelation Scheme

Today, Senator Richard Burr (R-NC), Ranking Member of the Senate Health, Education, Labor and Pensions (HELP) Committee, released the following statement on the Congressional Budget Office (CBO) announcement that President Biden’s illegal student loan debt cancelation scheme will cost taxpayers $400 billion:

“Just last week, President Biden declared the ‘the pandemic is over.’ But his Administration is still using the pandemic when it’s convenient as a thinly veiled justification for pet political priorities, like his illegal decision to unilaterally cancel student loan debt. Now the CBO has confirmed what we’ve known for months. The President’s student loan debt scheme will cost taxpayers a staggering $400 billion – a cost that will be borne by working Americans who chose not to go to college or who responsibly paid off their loans. Every American should be outraged by the President’s cynical ploy and by the real cost it places on those who stand to benefit the least.”