Providing for Congressional Disapproval Under 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. WILLIAMS of Texas. Mr. Speaker, I rise today in support of H.J. Res. 88, which I am a cosponsor of.

This Congressional Review Act would stop President Biden's radical SAVE Plan that alters the income-driven repayment program to redefine the vast majority of borrowers as financially distressed.

It saves nothing. In fact, in my business, it is called false advertising, and costing the taxpayer an estimated $559 billion is effectively a loan cancellation program in disguise.

Who is talking about the lenders? Who is talking about the people who loaned the money, the people of America?

In June, President Biden's unconstitutional plan to cancel outstanding loan debt was struck down by the Supreme Court, which stated that the authority to cancel student loans lies with Congress and Congress only, not with President Biden.

This latest plan by President Biden is yet another attempt to ignore the Supreme Court and sidestep Congress even after members of his own party have admitted the executive branch lacks the authority to do so.

Yesterday, the President announced that his administration approved another $4.8 billion in student loan cancellation, bringing the current total to over $130 billion, basically sponsoring deadbeats.

This is a slap in the face to the taxpayer, forcing the 87 percent of Americans who do not hold any Federal student loan debt and who have made sound financial decisions to foot the bill for those unwilling to pay off the debt they chose to rack up.

What this administration refuses to admit to the American people is that this is not debt cancellation or debt forgiveness but a shift in responsibility from the borrowers to the pocketbooks of hardworking families.

In Texas, where I come from, a deal is a deal. You pay your debt back, and a handshake still works.

Mr. Speaker, I urge my colleagues to vote in favor of H.J. Res. 88 and put a stop to this administration's unlawful attack on the American taxpayer. In God We Trust.

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