Republican lawmakers in both chambers of Congress have kicked off an effort to overturn the Biden administration’s student loan cancellation via Congressional authority.
The move comes after the Government Accountability Office said that the student loan rule fell within Congress’ authority to overturn under the Congressional Review Act, a law that allows lawmakers to revoke executive rules soon after they are enacted. To that end, Rep. Bob Good, R-Va, and Sen. Bill Cassidy, R-La, announced Monday they are leading a Joint Resolution of Disapproval, the first step for Congress to overturn Biden’s student loan forgiveness.
“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. Read more…