Sen. Kyrsten Sinema voted in favor today of a Republican measure overturning President Joe Biden’s student loan cancellation plan.
If it became law, this proposal would:
-Revoke Biden’s cancellation plan
-Prevent the Education Department’s ability to cancel student loans in the future
-Rescind Biden’s latest extension of a payment pause that began early in the pandemic. -Retroactively add several months of student loan interest that was waived by Biden’s extension.
Should the legislation pass the US House and make its way to the President’s desk, it will almost certainly be vetoed.
Biden has pledged to keep in place his commitment to cancel up to $20,000 in federal student loans for 43 million people. The legislation adds to Republican criticism of the plan, which was halted in November in response to lawsuits from conservative opponents.
The Supreme Court heard arguments in February in a challenge to Biden’s move, with the conservative majority seemingly ready to sink the plan. A decision is expected in the coming weeks.
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