Senate Blocks Biden's , Debt Relief Program , Ahead of Crucial Supreme Court Decision.
On June 1, the Senate blocked , President Joe Biden's , student loan relief program. .
NBC reports that the decision, made mostly along
party lines, also ends the Biden administration's
pause on federal student loan payments. .
NBC reports that the decision, made mostly along
party lines, also ends the Biden administration's
pause on federal student loan payments. .
Last month, the White House
warned that the president would veto
the resolution if it made it to his desk.
This resolution is an unprecedented
attempt to undercut our historic economic
recovery and would deprive more than
40 million hard-working Americans
of much-needed student debt relief, White House, via statement.
The U.S. Supreme Court is scheduled to make
rulings on two cases revolving around Biden's
proposed debt relief plan later this month.
NBC reports that the highly-anticipated Supreme Court
decision represents the debt relief plan's biggest test,
as Conservatives control a majority of the highest court.
Republican and Conservative opponents of the
legislation argue that it is unfair to taxpayers who
already paid off their loans or didn't attend college. .
Republican and Conservative opponents of the
legislation argue that it is unfair to taxpayers who
already paid off their loans or didn't attend college. .
According to an estimate by the nonpartisan Congressional
Budget Office, repealing the program would lower
the deficit by nearly $315 billion over the next ten years.
The Biden administration has countered that the cost
of higher education has become a "lifelong burden"
on low- and middle-income families in the U.S.
The Biden administration has countered that the cost
of higher education has become a "lifelong burden"
on low- and middle-income families in the U.S.
Biden has argued that his debt relief program would
offer borrowers "breathing room" following
the pandemic and the resulting economic crisis.