Staff Reports
The Senate, which is controlled by Democrats, turned down a motion to overturn the rule on income-based student loan repayment, which was a setback for the Biden administration's plans. A vote of 50–49, almost entirely along party lines, passed the resolution, which was backed by Republican Senator Bill Cassidy. Democratic Senator Joe Manchin broke ranks to vote with Republicans. It is important to note that Senator Tim Scott did not vote.
The Department of Education's new rule lets people with student loans make payments based on how much money they make over the poverty line. After 10 years of on-time payments, the loan is canceled. Senator Cassidy said, "This is erasing the whiteboard, and you don't have to pay," to show that he thought the system was unfair by nature. It will be paid for by someone else. "That's not fair at all in a democracy," I said.
— CHARALAMBOS TOUMBOPOULOS (@Taxydromos69) November 16, 2023
It's interesting to note that Republican efforts to undo unpopular rules made by the Biden administration through Congressional Review Act votes have had some success, even though the GOP is in the minority in the Senate and has a narrow majority in the House. In this case, though, Democratic Senators Jon Tester and Kyrsten Sinema voted against the measure, which meant it never made it to President Biden's desk.
President Biden has made student loan policy a top priority. He wants to forgive up to $20,000 in government held student loans for people who make less than $125,000 a year. The Supreme Court stopped this particular attempt, but the government is still committed to canceling loans through other means, like the income-driven repayment program. There are already $127 billion in student loans that have been forgiven by the Department of Education for 3.6 million people.
From a conservative point of view, Senator Cassidy thinks that President Biden's attempts to cancel student loans are political. He thinks it's an attempt to "buy off" a certain group of voters, which suggests that the government cares more about short-term political gains than treating everyone fairly.
