Republican North Carolina Rep. Greg Murphy introduced legislation Friday that would ban President Joe Biden from canceling student loan debt, something the administration is reportedly considering.
The Daily Caller first obtained the legislation, titled the Stop Reckless Student Loan Actions Act. The bill was co-sponsored by South Dakota Rep. Dusty Johnson and Wisconsin Rep. Mike Gallagher. The legislation would ban the president from canceling student loan debt, limit how long the president can suspend student debt payments, and increase congressional authority and oversight over the process.
The Biden administration is reportedly looking to take executive action to forgive $10,000 per borrower, or maybe even more. According to CNBC, the move would clear $321 billion of federal student loans and clear the student debt for almost 12 million people. However, Republicans say canceling student debt would just put the responsibility on hardworking, taxpaying Americans.
“President Biden often trumpets the line of wanting high-income Americans to ‘pay their fair share’,” Rep. Murphy told the Daily Caller before introducing the bill. (RELATED: Biden Considering $10,000 Student Loan Forgiveness Per Borrower)
READ THE LEGISLATION HERE:
“If Biden really believed that, he would start by requiring them pay their own student loans. What progressives fail to acknowledge is that there is no such thing as canceling or forgiving student loans, they’re just shifting the responsibility to hardworking taxpayers. The fact is, most Americans do not have college degrees, and it is reprehensible to force low-and middle-income families to bailout Ivy League graduates. I’m proud to be working with my Senate counterparts to protect taxpayers and prevent Biden from unfairly and unlawfully canceling student debt.” (RELATED: Former Obama Official Questions The Legality Of Student Loan Forgiveness)
Senate Majority Leader Chuck Schumer has urged Biden to reconsider canceling $50,000 in student loan debt for Americans, however, the White House has not signaled support for that number.
Republican Utah Sen. John Thune introduced a bill in the Senate to try to prevent the Biden administration from canceling student debt.