"More specifically, it is a professional class, graduate degree-holder bailout."īiden announced last summer that he would cancel up to $10,000 in student loans for people making less than $125,000, and up to $20,000 for students who received Pell Grants. "This is a professional class bailout," she said. She added that the loan repayment pause that was instituted during the COVID pandemic resulted in a de facto $65,000 loan cancelation for the average lawyer. GOP SENATORS PUSH BILL TO BLOCK BIDEN'S 'RECKLESS' STUDENT LOAN BAILOUT, PREVENT TAXPAYERS FROM COVERING COSTS It takes from those in the lower half and gives to the upper half." "Two-thirds of this debt transfer plan would go to the top half of earners. "Student loan cancelation is regressive," she said. Bob Good, R-Va., the sponsor of the resolution.įoxx argued that Biden’s plan only helps the wealthy, going against the Democrats’ progressive values. "In fact, he even admitted that to CNN host Anderson Cooper in February 2021 by saying, ‘I don’t think I have the authority to do it by signing with a pen,’" said Rep. Republicans rejected Democrats’ arguments by saying Biden has no legal authority to wipe away hundreds of billions of dollars in student debt. Virginia Foxx, R-N.C., asked for those politically charged words to be stricken from the record, and they were removed. "Why do you bring that bigoted logic to this issue?" he asked. SUPREME COURT TO HEAR GOP STATE CHALLENGE TO PANDEMIC-RELATED BIDEN STUDENT LOAN DEBT RELIEF PLAN Maxwell Frost of Florida, argued that Republican opposition to Biden’s plan was based on the argument that most Americans don’t need loan repayment aid, and said by that logic, women and Black people would never have been allowed to vote. "The Biden administration’s student debt relief plan is not a bailout, it is a lifeline, and I implore my Republican colleagues in Congress to speak with borrowers in their own districts about this very issue."Īnother Democrat, Rep. "Why for the love of God do Republicans want to continue to punch down on America’s students and divide our country?" he asked. Watch a non-stop stream of breaking news, live events and stories across the nation. Where to watch LiveNOW from FOX: Follow us on Twitter: Raw and unfiltered. In arguments lasting more than three hours Tuesday, Chief Justice John Roberts led his conservative colleagues in questioning the administration’s authority to broadly cancel federal student loans because of the COVID-19 emergency. The meeting was described as a proffer session with the House Ways and Means and Senate Finance committees to lay the groundwork for what the whistleblower could tell investigators and how he could do so without running afoul of taxpayer privacy laws.Supreme Court hears student loan forgiveness case | LiveNOW from FOXĬonservative justices holding the Supreme Court’s majority seem ready to sink President Joe Biden’s plan to wipe away or reduce student loans held by millions of Americans. Two sources familiar with the matter recently confirmed to CBS News that the attorney for the IRS whistleblower who alleges that the Justice Department interfered in and mishandled the Hunter Biden criminal probe met last week with members of Congress on behalf of his client. A 2019 federal subpoena obtained by CBS News sought financial and business records pertaining to 15 business entities and Hunter Biden, the president's brother James, as well as two business partners dating back to 2014 when Joe Biden was vice president. Comer should do the same examination of the many entities of former President Trump and his family members."Īt the same time, there is a federal investigation into Hunter Biden's business dealings that began in 2018, led by David Weiss, the U.S. The House Oversight Committee's ranking Democrat, Jamie Raskin of Maryland, said in a statement that a former business associate and financial adviser to then-Vice President Biden told Republican and Democratic Oversight Committee staff in March 2023 that "he was not aware of any involvement by President Biden in the financial conduct of the President's relatives' businesses, much less any transactions into or out of the then-Vice President's bank account related to business conducted by any Biden family member."Ībbe Lowell, an attorney for Hunter Biden suggested, "Instead of redoing old investigations that found no evidence of wrongdoing by Mr.
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