(TotalConservative.com) – On Wednesday, House Republicans advanced a bill that will stop President Joe Biden’s plan to cancel the student loan debt of millions of borrowers, a plan that will cost over $400 billion to execute.
A resolution passed by an education and workforce House committee will overturn the proposed policy by Biden to cancel student loan debt across the country, which was one of the major promises the president campaigned on in 2020. The resolution was spearheaded by Virginia GOP Rep. Bob Good who called the actions of President Biden “reckless.”
Last summer, the president announced a plan to cancel up to $10,000 for borrowers who make less than $125,000 annually, and as much as $20,000 for those who were given Pell Grants, a program with an expected tab of $400 billion. The plan was soon held up by the Supreme Court, who are supposed to decide whether or not Biden’s plan is legal next month.
Those who support the resolution and oppose Biden’s plan, such as North Carolina GOP Rep. Virginia Foxx, claim it is “nothing more than a transfer of wealth” from the people who took on debt willingly to other citizens who did not or paid off their loans. Foxx also said that most of the debt was taken on by graduate students.
Democrats argued during the committee meeting that stopping Biden’s handout will prevent necessary relief for millions who are struggling economically. Virginia Democratic Rep. Bobby Scott said that the House resolution “would hurt millions of student borrowers and their families,” roughly 43 million across the nation. Republicans, of course, dismissed these arguments, countering that the president’s plan was designed to unfairly redistribute wealth.
As all of this plays out, Biden and his family continue to be investigated for various scandals, the most recent of which is the House investigation of accusations that the president and his family received millions of dollars from foreign nationals while Vice President. The first son, Hunter Biden, is also under investigation for tax fraud, and is being sued for child support by the mother of his unacknowledged daughter, Navy.
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