(Senator James Risch Press Release, June 30, 2023)
WASHINGTON – U.S. Senators Jim Risch (R-Idaho) and Mike Crapo (R-Idaho) today commended the Supreme Court’s final ruling on President Biden’s student loan “forgiveness” scheme, which would transfer up to $20,000 in student loan debt per borrow onto taxpayers. The estimated cost is $400 billion.
“The Biden administration attempted to redistribute student debt in a manner that not only circumvented Congress but pinned the $400 billion cost for this ‘forgiveness’ onto every American taxpayer,” said Risch. “I am thankful the Supreme Court canceled President Biden’s student loan scheme.”
“The Supreme Court ruling adheres to current law and affirms the President cannot continue to circumvent Congress’s explicit statutory authority with regard to student loan forgiveness,” said Crapo. “Idahoans who went to work instead of attending college, or who already paid off their student loan debt, should not have to foot the bill for President Biden’s student loan forgiveness plan. Placing the burden of our nation’s outstanding student loan debt on taxpayers is irresponsible, unaffordable and does nothing to address the underlying issue, which is the exorbitant cost of tuition.”
Senators Risch and Mike Crapo filed an amicus brief in the case— Biden v. Nebraska and Department of Education v. Brown—challenging the administration’s student loan cancelation program, which they argue circumvents the authority of Congress.
Senators Risch and Crapo with 38 Republican colleagues also introduced a Congressional Review Act resolution to overturn the cancelation effort.
