President Biden's Student Loan Forgiveness Plan

Floor Speech

BREAK IN TRANSCRIPT

Mr. COLLINS. Mr. Speaker, I rise today to speak out against the administration's egregious student loan forgiveness plan.

According to the Congressional Budget Office, this unauthorized handout will cost the taxpayers an estimated $400 billion over the next decade. That means that everyday, hardworking Americans who either choose not to attend college or who have paid their loans will be on the hook for the financial decisions of others.

Tell me: Does that sound like a fair shake for the American taxpayer? Of course not.

Additionally, it is not even clear if the President has the authority to do this because, you see, he hijacked a law meant to help veterans, veterans who had served their country following 9/11 just to justify this unprecedented bailout.

But I tell you what: House Republicans are standing up to this administration's unreasonable and irresponsible policies. That is why a few weeks ago, the House passed a bipartisan resolution to block the administration's student loan forgiveness plan from even taking effect.

Our colleagues in the Senate, well, they resoundingly agreed with us by sending this to the President's desk, where he then vetoed our resolution.

Mr. Speaker, I urge my colleagues in both the House and the Senate to defend the American taxpayer and override this veto.

BREAK IN TRANSCRIPT

Source