WASHINGTON – Today, U.S. Senator Bill Cassidy, M.D. (R-LA), ranking member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, blasted President Biden’s veto of the Congressional Review Act (CRA) resolution overturning the administration’s student loan scheme, which would transfer up to $20,000 in student loan debt per borrower onto taxpayers, costing an estimated $400 billion. Earlier this year, Cassidy introduced the CRA resolution with U.S. Senators John Cornyn (R-TX) and Joni Ernst (R-IA). On June 1st, the U.S. Senate passed the CRA by a bipartisan vote of 52 to 46. The CRA previously passed the U.S. House of Representatives by a bipartisan vote of 218 to 203.
“On a bipartisan basis, Congress told the President his policies are irresponsible and unfair to the 87 percent of Americans who decided not to go to college, paid their way, or already responsibly paid off their loans,” said Dr. Cassidy. “The President is sending a clear message that he is willing to force these ordinary Americans to bear the burden of paying off someone else’s student debt in addition to their own bills.”
Last month, Cassidy and U.S. Senator Chuck Grassley (R-IA) published an op-ed on Fox News blasting President Biden’s student loan schemes. Additionally, Cassidy spoke on the Senate floor about his CRA resolution that blocks Biden’s student debt transfer scheme.
On March 17th, the Government Accountability Office (GAO) announced that President Biden’s student loan policy is classified as a rule and is eligible to be overturned under the CRA.
Recently, the Supreme Court heard oral arguments in the cases Biden v. Nebraska and Department of Education v. Brown on whether the student loan cancelation program violates President Biden’s executive authority under the Constitution. The Supreme Court is expected to issue an opinion on the policy this summer.