Congressional Republicans slammed President Biden‘s consideration of student loan forgiveness as a “giveaway” to highly educated Americans that ignores the underlying costs of college and inflation pressures for struggling Americans.
The president is under pressure from progressives to offer relief, but critics say debt relief would give certain Americans special treatment.
Rep. Kevin Brady, Texas Republican, spoke out Wednesday amid reports that Mr. Biden could act unilaterally before the midterm elections.
“This is a giveaway to highly educated college grads that will make rising costs worse rather than address the cost of colleges and universities,” said Mr. Brady, the top Republican on the House Ways and Means Committee.
Republicans launched a preemptive strike amid reports Mr. Biden could move to cancel up to $10,000 in student debt per borrower.
Democrats who support the idea say the plan is not a handout but needed relief for working Americans who are crushed by rising tuition and debt, even as their wages fail to keep up with living expenses.
Republicans said unilateral action by Mr. Biden would be legally dubious and spur students to take on more debt with the expectation it will be canceled later.
“In the middle of crushing Biden-flation, how could the president justify a student loan giveaway that overlooks Americans hurt most by inflation? Biden-flation hits the poor and middle class and working women the hardest,” Mr. Brady said. “And worse, Biden‘s student loan giveaway will do nothing to solve and make college more affordable. It will only further incentivize future debt.”
Mr. Brady told Mr. Biden to pivot toward bipartisan work on policies that incentivize American energy production, fight inflation and keep taxes low.