Congresswoman Tenney’s Statement on President Biden's Student Debt "Cancellation" Plan

UTICA, NY -- Congresswoman Claudia Tenney (NY-22) today released the following statement following the announcement of President Biden’s plans to “cancel” federal student loan debt for individuals making less than $125,000, or married couples making less than $250,000, per year.

“Pressured by far-left special interests, President Biden has caved once again. Joe Biden’s announcement that he will try to ‘cancel’ federal student loan debt for high earners not only bypasses Congress, it is a blatantly partisan effort to appease his far-left critics amid his record-low poll numbers. It is not only bad policy, it is wholly illegal and if the rule of law still matters in America the decision should be stopped by the Courts. President Biden and his Department of Education have both said previously that the President does not have the authority to take this misguided step, and nothing has changed aside from his falling poll numbers.

“‘Canceling debt that individuals willingly chose to take on sets a terrible precedent for our country. Those who paid off their college or who simply chose not to attend will now be stuck footing the bill for the 10% of Americans who still have debt outstanding. With an estimated cost of $300 billion, this disastrous policy is sure to fuel more inflation while catering to higher earners. Lastly, colleges and universities will have even less incentive now to lower skyrocketing tuition costs, kicking the can down the road and leaving future generations with the exact same problem.

“If President Biden wants to tackle the issue of student debt, he should start by following the law. Instead of unilateral executive action that is overreaching, irresponsible and costly, Joe Biden should work with Congress to take meaningful steps to tackle soaring higher education costs.”

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