BREAKING: The Senate approved a procedural vote Wednesday to advance a Congressional Review Act resolution that would shut down JoeBiden's plan to forgive up to $20,000 in federally held student loans for borrowers making less than $125,000.
The Senate approved a motion to proceed to a final vote on House Joint Resolution 45 on a 51-46 bipartisan vote. Sens. Joe Manchin and Kyrsten Sinema joined with Republicans to advance the bill.In a statement following his vote, Manchin said that his support for the resolution was because"we simply cannot afford to add another $400 billion to the national debt."
"There are already more than 50 existing student loan repayment and forgiveness programs aimed at attracting individuals to vital service jobs, such as teachers, health care workers, and public servants," Manchin said."This Biden proposal undermines these programs and forces hard-working taxpayers who already paid off their loans or did not go to college to shoulder the cost.
The bill now faces a final passage vote on Thursday. If passed, it will head to the desk of Biden, who has promised to veto it. Republicans had attempted to include a repeal of the cancellation effort in negotiations to raise the debt ceiling, but a deal struck last week by House Speaker Kevin McCarthy and Biden keeps the plan intact. However, the deal does require the administration to restart loan payments within 60 days of the bill's passage.In a floor speech prior to the procedural vote, Senate Health, Education, Labor, and Pensions Committee ranking member Sen.
"These policies are as unfair as they are irresponsible," Cassidy said."Where is the forgiveness for the guy who didn’t go to college but is working to pay off the loan on the truck he takes to work? What about the woman who paid off her student loans, but is now struggling to afford her mortgage? Is the administration providing them relief? Of course not.
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