Rep. Bob Good (VA-05) led the effort in the U.S. House on a measure aimed at revoking President Joe Biden’s student loan cancellation plan. The bill passed the Senate this week after winning approval in the House a week earlier, although Biden is all but certain to veto it.
U.S. Rep. Bob Good (VA-05) scored a legislative win this week at the expense of Americans with student loan debt.
Good and Louisiana Sen. Bill Cassidy led a bicameral effort to block President Joe Biden’s student loan cancellation plan, which eliminates up to $20,000 in student debt for borrowers earning less than $125,000 per year. The measure – a Joint Resolution of Disapproval – would also immediately end the pause on student loan repayments.
“I am pleased that my Republican colleagues in the Senate supported Sen. Cassidy and my efforts to overturn President Biden’s unlawful and unfair student loan transfer scheme,” said Good.
The measure is Good’s first to pass both chambers of Congress this term. Biden will almost certainly veto it.
Student loan repayments are currently paused, and the newly-passed bill to raise the debt ceiling to prevent the U.S. from defaulting on its own fiscal obligations would restart student loan repayments after August 30.
A case questioning the constitutionality of Biden’s student loan cancellation plan is currently before the U.S. Supreme Court, which is expected to rule by the end of June.
About 26 million Americans have applied for Biden’s student loan cancellation program, and 16 million borrowers were approved for cancellation before legal challenges brought application processing to a halt. According to White House data, 685,000 borrowers in Virginia are automatically eligible for debt relief.
A recent poll found that almost half of Americans support Biden’s student debt cancellation plan; just 35% want the Supreme Court to strike the plan down. Among those with student debt, 83% approve of the plan.
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