Current:Home > MarketsBiden vetoes bill to cancel student debt relief -Intelligent Capital Compass
Biden vetoes bill to cancel student debt relief
View
Date:2025-04-27 20:41:43
President Joe Biden on Wednesday vetoed a bill that would have repealed his plan to forgive student debt.
H.J. Res. 45 passed the Senate in June and the House in May. Biden's veto is the fifth of his presidency.
"It is a shame for working families across the country that lawmakers continue to pursue this unprecedented attempt to deny critical relief to millions of their own constituents, even as several of these same lawmakers have had tens of thousands of dollars of their own business loans forgiven by the Federal Government," Biden said.
Lawmakers who voted for the bill said Biden's plan is too expensive and unfairly benefits college graduates at the expense of taxpayers who didn't go to college.
Sen. Bill Cassidy, a Republican and lead sponsor of the bill in the Senate, criticized Biden after the veto.
"On a bipartisan basis, Congress told @POTUS his policies are irresponsible and unfair to the 87 percent of Americans who decided not to go to college, paid their way, or already responsibly paid off their loans," Sen. Cassidy tweeted. "The President is sending a clear message that he is willing to force these ordinary Americans to bear the burden of paying off someone else's student debt in addition to their own bills."
While it's unlikely the House and Senate have enough votes to override a presidential veto, the legislation could still be overturned by the Supreme Court, which is reviewing a legal challenge that could eliminate the program. Justices heard arguments for the case in February and a SCOTUS decision is expected this summer.
Biden's student loan relief plan cancels up to $20,000 in debt for tens of millions of borrowers making less than $125,000 per year.
Student loan payments were paused at the beginning of the COVID-19 pandemic. They're set to resume later in the summer.
- In:
- Student Debt
- Student Loan
Aliza Chasan is a digital producer at 60 Minutes and CBS News.
TwitterveryGood! (442)
Related
- Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
- Family of man who died after being tackled by mental crisis team sues paramedic, police officer
- Sweetpea, the tiny pup who stole the show in Puppy Bowl 2024, passed away from kidney illness
- Nick and Aaron Carter's sister Bobbie Jean Carter's cause of death revealed: Reports
- Appeals court scraps Nasdaq boardroom diversity rules in latest DEI setback
- Lyft shares rocket 62% over a typo in the company’s earnings release
- How Texas church shooter bought rifle despite mental illness and criminal history is under scrutiny
- Suspect captured in fatal shooting of Tennessee sheriff's deputy
- The Daily Money: Spending more on holiday travel?
- Fortune 500 oil giant to pay $4 million for air pollution at New Mexico and Texas facilities
Ranking
- This was the average Social Security benefit in 2004, and here's what it is now
- How The Bachelor's Serene Russell Embraces Her Natural Curls After Struggles With Beauty Standards
- Oklahoma country radio station won't play Beyoncé's new song. Here's why
- Open gun carry proposal in South Carolina on the ropes as conservatives fight among themselves
- The Louvre will be renovated and the 'Mona Lisa' will have her own room
- Report: ESPN and College Football Playoff agree on six-year extension worth $7.8 billion
- Republican Michigan elector testifies he never intended to make false public record
- Kylie Jenner Flaunts Her Toned Six Pack in New Photos
Recommendation
North Carolina justices rule for restaurants in COVID
Nebraska GOP bills target college professor tenure and diversity, equity and inclusion
Valentine's Day history: From pagan origins to endless promotions, with a little love
Report: ESPN and College Football Playoff agree on six-year extension worth $7.8 billion
Elon Musk's skyrocketing net worth: He's the first person with over $400 billion
Illegal border crossings from Mexico plunge after a record-high December, with fewer from Venezuela
Brittany Mahomes Says She’s in “Awe” of Patrick Mahomes After Super Bowl Win
Former NBA player Bryn Forbes arrested on family violence charge