President Biden on Wednesday vetoed a bill that would end $400 billion in student loan benefits and vowed “no plans to back down” on forgiveness of millions of college debt across the country.
“Ladies and Gentlemen, Republicans in Congress have led efforts to pass legislation to block my administration’s plans to provide up to $10,000 in student debt relief and up to $20,000 to borrowers who receive Pell subsidies. Nearly 90% of these relief funds go to people on low incomes, “more than $75,000 a year,” Biden said in a video posted on Twitter.
“I will not back down from my efforts to help tens of millions of working and middle-class families, which is why I will veto this bill,” he said.
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Amid lashing out at the Republican Party, Mr. Biden joined all Republicans in voting last week to push the bill, Democratic Sen. Joe Manchin (D. Virginia) and Sen. John Tester (D. Mont.). He didn’t mention Democratic senators. Independent Arizona Senator Kirsten Cinema also voted in favor, with the final tally 52-46.
Biden also noted Rep. Jared Golden (D, Washington) of Maine and Rep. Marie Grusenkamp Perez (D, Washington), who joined Republicans in voting for the bill in the House. I didn’t. The final House vote tally was 218 to 203.
The president went on to say that some of the lawmakers who voted for the bill had “privately taken loans to keep small businesses afloat during the pandemic,” adding that “significant tax cuts for businesses and the wealthy.” said to have supported
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President Joe Biden speaks in the Oval Office on June 7, 2023, ahead of a veto against a bill that would end $400 billion in student loan benefits. (White House)
“But when hard-working Americans were trying to get ahead by working on student loan relief, they drew a line there. I think that’s wrong,” he said.
Before vetoing the bill, he added: “I want to be very clear. I will never apologize for helping America’s working and middle class to recover from this pandemic. I will never apologize.”
Biden’s veto of the bill will be his fifth veto since taking office.
Under a program announced last year, Mr. Biden said he would end student loans of up to $10,000 for students earning less than $125,000 and up to $20,000 for those receiving Pell grants.The program was expected to cost the government more than $400 billion in repaying lost debt, but the program Hold after the court stopped it.
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US Capitol Building in Washington DC (FOX News Photo/Joshua Commins)
The resolutions approved by the House and Senate were written under the Congressional Review Act, which allows Congress to reject executive branch policy as long as both the House and Senate pass resolutions disapproving that policy. is.
Given the partisan nature of the majority of votes in the House and Senate, the likelihood that Congress will get the necessary two-thirds majority in each house to override Biden’s veto. is low.
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Fox News’ Peter Kasperowicz contributed to this report.
