The fate of the program is now up to the Supreme Court after President Biden vetoed a bill that would have reversed his student loan reduction proposal.
In a tweet sent on Wednesday, Biden said that Congressional Republicans led an effort to pass a measure obstructing my Administration’s plan to assist working and middle-class People with up to $20,000 in student loan relief.
Biden Vetoes GOP Measure to Overturn Student Loan Relief Plan
The president’s plan, which would affect 40 million borrowers by canceling $10,000 in debt for those making less than $125,000 a year and $20,000 in loans for those getting Pell Grants, has been under fire from Republicans ever since it was first proposed.
To override Biden’s veto, both the House and the Senate would need to vote with a two-thirds majority, something Biden’s opponents cannot achieve.
Biden explained in a statement on Wednesday that he rejected the proposal because he is dedicated to continuing to make education accessible and giving this crucial assistance to borrowers as they fight to recover from a once-in-a-century pandemic.
This month, the bill to thwart the proposal was approved by the Senate on a 52-46 vote and the GOP-controlled House on a party-line vote with two Democrats backing Republicans.
Democrats Jon Tester of Montana, Joe Manchin of West Virginia, and Independent Sen. Kyrsten Sinema of Arizona joined Republicans in voting against Biden’s proposal in the Senate.
Under the Congressional Review Act (CRA), which enables Congress to overturn recently implemented rules and regulations, the proposal was made as a joint resolution.
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Supreme Court Decision Looms
Democrats in the Senate were unable to obstruct the bill because such bills are not subject to the filibuster, and a supermajority of 60 votes was not necessary to pass it.
Although the plan is currently being considered by the Supreme Court, the conservative majority is predicted to overturn it.
After oral arguments in February, the justices expressed doubt regarding the Biden administration’s authority to forgive up to $20,000 in student loans.
In August, after promising student loan forgiveness as a campaign pledge and coming under pressure from progressives to follow through, Biden made the announcement in full.
While progressives hailed the plan as a good first step toward forgiveness, moderate Democrats and Republicans voiced concerns over the cost to taxpayers, which is expected to be about $400 billion.
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