(TheLibertyRevolution.com)- On Monday, Republican lawmakers introduced legislation to overturn President Biden’s student debt bailout, the Washington Examiner reported.
In the joint resolution, announced by Rep. Bob Good of Virginia and Senator Bill Cassidy of Louisiana, Congress, Congress expresses disapproval and overturn the president’s unilateral action to bail out the student loan debt through executive action.
In a press release announcing the joint resolution, Good and Cassidy describe the president’s student debt bailout as “the latest in a series of costly moves” that is driving up inflation. With the joint resolution, Congress will “formally revoke the authority” that the administration used to justify the order, the press release said.
Good’s joint resolution has 39 sponsors in the House, all of them Republican.
In the Senate, the resolution is backed by Senator Cassidy, along with Texas Senator John Cornyn, Iowa Senator Joni Ernst, Idaho Senators Mike Crapo and Jim Risch, and Utah Senators Mike Lee and Mitt Romney.
In a statement to Utah’s Deseret News, Senator Lee described the president’s unilateral action as a “veiled attempt to buy political support” before last year’s Midterm elections. Lee said Biden’s action would not “cancel” student loan debt. Instead, “it sends a tuition bill to those who chose a different path.”
Senator Romney said the bailout would be “wildly inflationary” when inflation is already at historic levels, Deseret News reported.
Senator Cassidy said in a statement that the president is “shifting the burden” from those who “willingly took on their debt” to those who either chose not to attend college or already paid off their student loans.
In early March, the Government Accountability Office said the president’s student debt bailout plan is subject to the Congressional Review Act, which gives Congress the authority to rescind certain regulations within a specific time frame.
It was after the GOA’s determination that Congressional Republicans signaled their plan to introduce legislation overturning the president’s student loan bailout.
