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On behalf of Americans for Prosperity activists in all 50 states, I urge you to join your House colleagues in support of H.J. Res. 45, Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Education relating to “Waivers and Modifications of Federal Student Loans”.
This resolution would overturn the sweeping and unconstitutional actions the Biden Administration has taken to forgive student loan debt.
While America waits for the Supreme Court’s ruling on the Biden Administration’s actions, Congress must send the administration a clear signal that Congress alone has the power of the purse and will not stand by while an unchecked executive branch tramples the Constitution. The Congressional Budget Office estimates “the total cost of President Biden’s announced changes will cost between $500 billion and $650 billion.” This cost will impact all Americans including forcing the two-thirds of Americans who don’t have college degrees to pay off hundreds of billions in outstanding debt accrued by a small portion of the population. The Biden Administration failed to properly estimate the cost of this loan jubilee, which will ultimately cost taxpayers hundreds of billions more than what Biden pitched to the American people.
President Biden is overstepping Constitutional guardrails and exercising undelegated authority, effectively appropriating hundreds of billions in taxpayer monies without Congressional approval. This Biden loan cancellation plan requires a federalism impact assessment to determine the egregiousness of his actions overstepping Congress’s constitutionally delegated authority.
Further, Biden’s loan cancellation is simply bad policy that does not address the underlying causes of the student loan crises. Since 1980, tuition has increased more than six times the rate that the average income has grown. The Biden Administration proposal would be one more failed taxpayer funded subsidy intended to make college more affordable but with the opposite effect. Tuition will continue to skyrocket and change borrowers’ behavior in profound ways, leading many students to borrow more for college while colleges benefit on the backs of students and taxpayers.
We applaud Senator Cassidy for his leadership on behalf of America’s taxpayers and we strongly urge you to support H.J. Res. 45.
Chief Government Affairs Officer and Senior Vice President
Americans for Prosperity
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