The Democratic-majority Senate reacted sharply to one of President Joe Biden’s executive orders on Thursday, approving a measure that nullifies his coronavirus relief plan. student debt which allowed 40 million borrowers to receive loan forgiveness of up to $20,000, although it is highly likely that the President Joe Biden exercise their right of veto against this measure.
The Senate approved the measure by a vote of 52 to 46 just days after it was approved by a Republican majority in the House of Representatives. it would cancel Biden’s debt relief program and end the administration’s pause in federal student loan repayments.
Democratic Senators John Tester of Montana and Joe Manchin of West Virginia, as well as Independent Senator Kirsten Sinema of Arizona, joined Republicans in voting to reject Biden’s proposal.
Under the Congressional Review Act (CRA), only 50 votes in the Senate were required to overcome the filibuster, instead of the usual 60.
The White House has made it clear that a veto is looming over the administration’s policy statement. and neither house can give two-thirds of the votes to abolish it.
However, a proposal to partially write off Biden’s student debt is still pending a decision from the Supreme Court, which was highly skeptical during oral arguments earlier this year.
While student debt forgiveness has strong support among progressives, its bicameral waiver would not have been possible without the help of moderate Democrats.
Debt cancellation will cost taxpayers about $400 billion. The Congressional Budget Office recently estimated that a change in the course of aid would cut the deficit by $320 billion over 10 years.
In addition, the House of Representatives on Wednesday approved an agreement to raise the bipartisan debt ceiling, which includes a strict reduction in the suspension of student loan payments during the pandemic era at the end of the summer, eliminating any chance that proponents of student loan write-offs persuaded Biden to extend the moratorium on student debt payments.
Source: La Opinion
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