President Biden vetoed a measure on Monday that would have overturned his student loan forgiveness plan, this could affect tens of millions of borrowers.
“Congressional Republicans led an effort to pass a bill blocking my Administration’s plan to provide up to $20,000 in student debt relief to working and middle class Americans,” Biden said in a tweet on Wednesday. “I won’t back down on helping hardworking folks. That’s why I’m vetoing this bill.”
The Republican-led House passed in March a joint resolution of disapproval employing the Congressional Review Act. This allows lawmakers to overturn executive branch rules while doing away with the 60-vote threshold to overcome a filibuster in the Senate. The vote was 52-46, with Sens. John Tester (D-MT), Joe Manchin (D-WV), and Kyrsten Sinema (I-AZ) joining Republicans, the upper chamber passed the measure last week.
“President Biden’s so-called student loan forgiveness programs do not make the debt go away, but merely transfer the costs from student loan borrowers onto taxpayers to the tune of hundreds of billions of dollars,” Good said in a statement at the time. “Congress should stop these unilateral actions, and I am proud to lead the fight in the House to hold President Biden accountable for his reckless, unfair, and unlawful student loan proposal. I hope all my colleagues will join me and support this effort.”
Congress does not seem to have the numbers to override a veto, the student loan plan still has a major hurdle to clear in court. Legal experts believe the conservative-majority Supreme Court will reject the program in a ruling that is expected this summer.
Biden announced his debt relief plan in August before the midterm elections, he said it was part of a wider effort to provide assistance to working families struggling with “strains” associated with the COVID pandemic. This strategy included extending a pause on federal student loan payments.
“It is a shame for working families across the country that lawmakers continue to pursue this unprecedented attempt to deny critical relief to millions of their own constituents,” Biden said in a statement when announcing his veto. https://t.co/HT7C7KkdOw
— PBS NewsHour (@NewsHour) June 8, 2023