WASHINGTON – Today, U.S. Senator Bill Cassidy, M.D. (R-LA), ranking member of the Senate Health, Education, Labor and Pensions (HELP) Committee, released a statement following the U.S. Supreme Court’s ruling in Biden v. Nebraska that overturns President Biden’s student loan cancelation scheme, which would transfer up to $20,000 in student loan debt per borrower onto taxpayers, costing over $300 billion.
“Today’s Supreme Court ruling confirmed what we have known all along: the Biden administration’s student loan plan is an overreach of executive power,” said Dr. Cassidy. “This is an obvious but welcomed ruling. President Biden’s student loan scheme does not ‘forgive’ debt, but unfairly transfers the burden from those who willingly took out loans onto those who chose not to attend college or already fulfilled their commitment to pay off their loans.”
Earlier this year, Cassidy joined U.S. Senator Marsha Blackburn (R-TN) and 41 Senate colleagues in filing an amicus brief to the Supreme Court arguing that President Biden’s student loan program circumvents the authority of Congress.
This month, Cassidy and U.S. Senators Chuck Grassley (R-IA), John Cornyn (R-TX), Tommy Tuberville (R-AL), and Tim Scott (R-SC) unveiled their groundbreaking Lowering Education Costs and Debt Act, a package of five bills aimed at directly addressing the issues driving the skyrocketing cost of higher education and the increasing amounts of debt students take on to attend school. Later that day, the senators held a press conference to discuss the package.
On March 27th, Cassidy introduced a Congressional Review Act (CRA) resolution with U.S. Senators John Cornyn (R-TX) and Joni Ernst (R-IA) that overturns the Biden administration’s student debt cancelation scheme. After Congress passed the CRA with bipartisan support, President Biden vetoed the resolution.