news Biden vetoes measure overturning student loan forgiveness plan

[Ryan]

Source: The Hill

 

President Biden has rejected a legislative attempt to overturn his student loan forgiveness plan, leaving the program's future up to the Supreme Court. He expressed his firm stand on Twitter, stating that he would not give up on supporting working and middle-class Americans with student debt relief of up to $20,000.

 

Biden emphasized that he would never apologize for assisting these citizens as they strive to recover from the pandemic. His plan, which has faced Republican opposition since its inception, is designed to affect 40 million borrowers. The proposal offers $10,000 in loan forgiveness to individuals earning under $125,000 annually, while Pell Grants recipients could receive up to $20,000 in loan forgiveness.

 

Despite the veto, an override could still occur with a two-thirds majority vote in both the House and the Senate, a feat opponents of the plan are unlikely to achieve. Biden justified his veto, stating his commitment to making college more affordable and providing essential relief to borrowers during the ongoing pandemic recovery.

 

The Senate passed the measure to block the plan with a 52-46 vote earlier this month, and it was approved by the GOP-majority House along party lines, with two Democrats siding with Republicans. Democratic Senators Jon Tester and Joe Manchin, along with Independent Senator Kyrsten Sinema, voted against Biden's proposal in the Senate.

The resolution opposing the plan was introduced under the Congressional Review Act, enabling Congress to invalidate newly imposed rules and regulations. Due to the nature of this Act, Democrats in the Senate could not stop the measure, and a supermajority of 60 votes was not needed to progress it.

 

Despite the veto, the Supreme Court is still deliberating on the plan. The conservative majority court is anticipated to reject it, with justices expressing doubts during February oral arguments about the Biden administration's authority to forgive up to $20,000 in student loans.

 

Biden first announced his plan in August after making student debt forgiveness a campaign pledge and under progressive pressure to act. While progressives praised the plan as a promising first step towards forgiveness, moderate Democrats and Republicans expressed concern about the anticipated $400 billion cost to taxpayers.

 

When announcing his plan, Biden also signaled the end of the pandemic-era pause on student loan payments, initially instituted in March 2020 under former President Trump and subsequently extended several times. The resumption of payments was confirmed with the passage of the bipartisan debt ceiling agreement, which set a firm resumption date of 60 days after June 30. 

[Jotham]

[suburbannature]

The crickets in here

[Yog]

2 minutes ago, suburbannature said:

The crickets in here

This site likes to complain of Biden of not doing anything but when he does nothing…it’s very weird tbh 

[rp662]

The Supreme Court is surely going to rule against it but nevertheless. 

[EnigmaticAndroid]

Oh wow 

 

I honestly just resigned myself that they would give up but at least he did something. Hopefully the Supreme Court doesn't reject it. 

[Archetype]

This is more of a symbolic gesture and I’m here for it, but it would really be great if a future president actually takes on the root cause of massive student debt instead of applying temporary band aids to rile up voters.

[Sergi91]

[aesthetic bih]

Finally some good ******* news

[Matthew4815]

I don't have high hopes for the Supreme Court but good for Biden to stand by what's right.

[Timber]

I mean, it's not happening but I appreciate the hold on payments for a while. I think we have till August.

[thetea]

it's better than nothing, but university should be cheaper globally. 

[ClashAndBurn]

1 hour ago, Yog said:

This site likes to complain of Biden of not doing anything but when he does nothing…it’s very weird tbh 

It was threaded at midnight for East Coast US, get a hold of yourself please.  

 

 Besides, there's not much to praise until after it passes the SCOTUS case that is only made possible due to Biden slow-walking the policy and giving Republicans the chance to build a defense for stopping it. Him spending all that time means-testing relief that could have been universal and unconditional was crucial for buying Republicans that much-needed time. Why? Because he doesn't actually want it to go through, and he wants SCOTUS to take that ability away from any future presidents.

[Specter]

 

I hope the US figures out an enduring solution, though. I can't imagine what these constant overturned-veto-overturned loops might do to the student's psyche.

[Communion]

2 hours ago, suburbannature said:

The crickets in here

 

2 hours ago, Yog said:

This site likes to complain of Biden of not doing anything but when he does nothing…it’s very weird tbh 

So what's the plan when 40M are forced into repayment on September 1st and no forgiveness has occurred?

 

Don't be shy now, say it right into the mic:

 

[Jotham]

15 minutes ago, Communion said:

 

So what's the plan when 40M are forced into repayment on September 1st and no forgiveness has occurred?

 

Don't be shy now, say it right into the mic:

 

What's your plan? A lot of people just want to find reasons to complain about Biden without providing realistic (!!!) solutions themselves.

 

Also, the statement that "no forgiveness has occurred" is objectively false. Biden has already forgiven $66 billion in student loans.

[Communion]

48 minutes ago, Jotham said:

What's your plan?

My plan would have included not comprising with fascists and agreeing to a poison pill in your debt ceiling deal:

I also wouldn't have gone and praised said fascists as "working in America's interests" after allowing them to permanently restrict my powers as president:

 

I'm sorry but partisans reveal themselves as knowingly dishonest here.

 

I rather you just say outright you are a partisan-motivated fan more interested in stanning the personality that is Joe Biden and him as some kind of public figure than someone with any interest in policy decisions and their impact on the poorest of Americans.

 

Progressives have been telling Democrats the solutions for the last 3 years. Democrats do not want to see it because Democrats are not actually interested in solutions.

 

Biden was pushed to invoke the Higher Education Act. He instead invoked the HEROES Act of 2001 that would lead to the complications he faces in court now.

 

Biden was pushed to invoke the 14th amendment for the debt ceiling. He instead championed ending the payment pause because the optics mattered more to him in declaring COVID over as a national emergency and giving into Republicans' demand to do such.

 

He could have ordered the Secretary of Education to find new loan processors. Instead, the same company that is suing to stop his student debt relief plan has been rewarded with the largest contract of all student loan processors and is now who is entrusted to turn payments back on for tens of millions of Americans despite studies showing we're headed for a default crisis.

 

We're sub-90 days until the first payments are due and yet the CFPB has found that barely half of the loan transfers have been completed. The companies charged with billing debtors don't even have the information yet to actually bill 15M Americans (!) at this point:

https://twitter.com/kennybauf/status/1666550222594375690

 

The same loan processors who were found to have inaccurately processed people's loans and lost information like count of total payments made thus far, impacting as many as 1 in 5 borrowers, when the CFPB last audited previous loan transfers between processors (let alone such service transfers never happening at this level or quantity ever before):

https://twitter.com/ddayen/status/1666420618718322691

 

You can't throw your most dedicated voting base to the wolves and then cry "VOTE YOUR WAY OUT OF THIS".  People did vote. In droves. Either make good on said promises or accept the consequence of not being able to fulfill one's end of the bargain made with millions of voters.

Edited June 8, 2023 by Communion

[Thevelvetnope]

Good, especially as we enter election season. Make the republicans of the House, Senate and Supreme Court triple down on their long held position of having zero interest in helping American families and individuals. 

[JoeAg]

this is too many double negatives lol lemme think for a sec

[JoeAg]

ok got it!

 

hell yeah, good news it is 

[Communion]

1 hour ago, Jotham said:

Also, the statement that "no forgiveness has occurred" is objectively false. Biden has already forgiven $66 billion in student loans.

Also, I wasn't going to be petty and let this slide, but anyone making this argument can only be doing so with intellectual dishonesty, that your entire post is written off as done with intent to deceive people since

• 1) anyone who is literate could see my statement that referenced "forgiveness" is referencing the forgiveness of $20k that was promised via the 2001 HEROES Act, for which objectively none has been delivered upon yet;
• 2) anyone trying to defend Biden by yelling "BILLIONS HAVE BEEN FORGIVEN!!" forces me to post the below chart where we now have to laugh. Why would you boldly want to make Biden look worse?
• 

Edited June 8, 2023 by Communion

[LustSpell]

Expected. Republicans can say they voted to repeal, Democrats can say they voted against, Biden can say he vetoed. A win for all until the SC inevitably throws it out. But as someone said, very symbolic.

Edited June 8, 2023 by LustSpell

[Espresso]

21 minutes ago, LustSpell said:

Expected. Republicans can say they voted to repeal, Democrats can say they voted against, Biden can say he vetoed. A win for all until the SC inevitably throws it out. But as someone said, very symbolic.

I have nothing to add to this. Too many other fires to put out, literally and metaphorically. 

 

There’s debate here on what evidence is behind what issue that motivates or depresses turnout - this is a big one (if not a lynchpin issue with black millennials in Georgia based on the stats) but I always had SCOTUS baked in so I never put it ahead of the continued Dobbs fallout

[waylon4ever]

My college forgiveness plan:

No more gender studies, no more liberal arts, art history, culinary arts…etc 

 

All loans will be 0% interest but all must be paid back

 

All loans will be through the college itself and not federal government

 

College tuition will be capped at 40,000 for highest degrees

 

No professor may make more than $90,000/year

 

No special guest speaker may make more than $75,000 speech/teach class. 

 

Get rid of the classes that have no bearing on the degree, and focus on the classes that will knock a few years off the college years. 
 

 

 

 

 

 

 

 

 

[Click Clack]