Providing for Congressional Disapproval Under Chapter 8 of Title United States Code, of the Rule Submitted By the Department of Education Relating to ``Improving Income Driven Repayment for the William D. Ford Federal Direct Loan Program and the Federal Family Education Loan (Ffel) Program''
Floor Speech
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Mr. SCHUMER. Mr. President, we reached an agreement here, which I will get to in a second. I just want to say a brief word about the vote that just happened.
I am very glad that this CRA was defeated. There are millions of students--poor, working class, some middle class, almost none wealthy-- who benefit from what the President has done. The very poor people, they don't have to pay student loans. For most of the rest who are working class and middle class, they pay about half of what they did. It really is a change to help our young people. It is a good thing. It is a good thing.
I want to say that I am very glad that this Chamber had the good sense to defeat it, because I don't understand my colleagues on the other side of the aisle who believe in ``we can cut taxes for the very wealthy and decrease the deficit, but not help students with the big loan burdens on their shoulders.'' But that is how it is.
President Biden has been really careful about doing this. I believe it will be approved in the courts.
And, now, the 25.5 million students who have benefited from this and millions more will continue. So this is a real victory for our young people and for the future of America, so kids can afford to go to college and then have decent lives, not burdened by huge amounts of student debt after they graduate.
Now, the good news is--that was good news, at least in my opinion. This is probably good news in many of our opinions, on both sides of the aisle, that we have an agreement. Unanimous Consent Agreement--H.R. 248, H.R. 6363, be withdrawn and that the motion to proceed be agreed to; further, that the only amendment in order to H.R. 6363 be the Paul amendment, No. 1366; that there be up to 15 minutes for debate equally divided; that upon the use or yielding back of the time, the Senate vote on or in relation to the amendment; that upon disposition of the amendment, there be up to 30 minutes for debate equally divided; that upon the use or yielding back of the time, the bill be considered read a third time and the Senate vote on passage of the bill as amended, if amended, with 60 affirmative votes required for passage, without further intervening action or debate, and with 2 minutes for debate equally divided prior to each vote. Unanimous Consent Agreement--H.R. 2670
Mr. President, I also ask unanimous consent that following the disposition of H.R. 6363, the Chair lay before the Senate the message with respect to H.R. 2670, the National Defense Authorization Act, which was received from the House; that the leader or his designee then be recognized to make the compound motion under rule XXVIII; that the Senate insist upon its amendment, agree to the conference with the House, authorize the Presiding Officer to appoint conferees with the ratio of conferees being 13 to 12; further, that if the compound motion is agreed to, it be in order for the following Senators or their designees to offer motions to instruct, which are at the desk: Klobuchar, Rubio, Hickenlooper, Blackburn, Lankford, Lummis, Cramer, Moran, Ernst, Hagerty, Braun, and Manchin; finally, that the Democratic conferees be Senators Reed, Shaheen, Gillibrand, Blumenthal, Hirono, Kaine, King, Warren, Peters, Manchin, Duckworth, Rosen, and Kelly; and that the Republican conferees be Senators Wicker, Fischer, Cotton, Rounds, Ernst, Sullivan, Cramer, Scott of Florida, Tuberville, Mullin, Budd, and Schmitt.
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