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Biden’s Student Loan Bailout Would Leave Americans Paying More

Dec 7, 2023 by AFP

AFP Applauds House for Halting Biden’s Latest Scheme to Cancel Debt, Urges Senate to Act

ARLINGTON, VA—Americans for Prosperity applauds the House of Representatives for passing a Congressional Review Act resolution today to halt the Biden Administration’s latest unconstitutional debt cancellation scheme. Biden’s ‘Saving on a Valuable Education’ or SAVE plan—which should really be called the SPEND plan—is expected to cost taxpayers up to $559 billion over the next 10 years while doing nothing to address the underlying drivers of the loan crisis facing students and their families.

Americans for Prosperity Vice President Akash Chougule commented:

“Americans are already struggling to make ends meet thanks to ‘Bidenomics’ and more spending and debt will only make the problem worse – especially for the two-thirds of Americans who chose not to pursue a college degree and are among those already hardest hit by inflation. We applaud the House for overturning Biden’s latest unconstitutional attempt to spend hundreds of billions in taxpayer dollars not appropriated by Congress for a student loan bailout, and we urge the Senate to swiftly take up this resolution and send a clear signal that this administration’s blatant disregard of the Constitution and disrespect for hardworking taxpayers will not be tolerated.” 

Click HERE for more on why Biden’s plan to cancel student debt would leave Americans paying more.

Click HERE to read AFP’s letter of support for the CRA resolution led by Rep. Lisa McClain and Sen. Bill Cassidy.