During the final days of the 2020 campaign, Joe Biden began promising Americans quite a bit. There are numerous “day one” and “first 100 days” guarantees that few in Washington truly believed could be achieved…at least not at the pace in which the legislature had grown accustomed to operating.
This led the newly-elected Biden to issue a flurry of executive orders during his first few weeks in office – a move that has been criticized by Republicans and Democrats alike.
Now, seeing Biden’s affinity for legislation by decree, radical liberals are attempting to convince Biden to use an executive order to drive down student loan debt.
Schumer, D-N.Y., Warren, D-Mass., and Pressley, D-Mass., on Thursday reintroduced a resolution, which would allow the secretary of education to “cancel up to $50,000 in federal student debt.”
The resolution also called on Biden to take executive action to “administratively cancel up to $50,000 in Federal student loan debt for Federal student loan borrowers” using “existing legal authorities” under the Higher Education act of 1965. The resolution also “encourages” Biden to use executive authority under the Internal Revenue Code of 1986, which would prevent administrative debt cancellation from resulting in a tax liability for borrowers.
Schumer’s statement also suggested that Biden continue the current pause on student loan payments, until such a time as the economy is back to humming along at a proper pace.
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