Rep. Mary Peltola voted against House Joint Resolution 88, which passed 210 to 189, disallowing the Biden Administration to once again, through a regulatory loophole, force taxpayers to pay back the loans of college tuition borrowers.
A regulation by the Department of Education was the latest student debt transfer to working class Americans. It would not actually forgive or cancel a penny of student debt, but instead transfer it to people who did not take out the loan. The wealth transfer amounts to $4.8 billion in loans taken out by college students.
“President Biden is once again asking hard-working taxpayers to foot the bill for the loans of well-off graduates. This is not only unfair, it is wrong. Borrowers should be responsible for paying off their debts,” said Speaker Mike Johnson.
After the U.S. Supreme Court ruled in June that the Biden Administration’s $400 billion college student loan forgiveness program was unconstitutional, Biden went about it another way, and canceled debt for some college graduates, particularly those in government jobs.
Student loans that were borrowed from the taxpayers had been put on “pause” for three years, starting during the Covid pandemic, when college and the job market was disrupted by regulatory shutdowns.
