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Budd: Biden Student Debt Cancelation is a Bailout for the Wealthy

Press Release

By: Ted Budd
By: Ted Budd
Date: Aug. 24, 2022
Location: Washington, DC
Issues: Education

Rep. Ted Budd (R-NC) released the following statement on the Biden administration's move to cancel student loans through unilateral executive action:

"The Biden administration's cancellation of student loans is a wealth transfer from everyday taxpayers who don't have a college degree to wealthy elites who don't need a bailout. This move is an insult to working families and those who responsibly paid off their loans. The Biden administration has yet again taken reckless action that hurts hardworking North Carolinians and makes the inflation crisis worse."

Related background:

On July 6, 2022, Rep. Budd introduced the Federal Employee Student Debt Transparency Act. The bill would require all political appointees and Senior Executive Service employees to disclose balances for all federal student loans. This would apply to employees that have a direct role in the political and policy functions of the Biden Administration.


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