The US Supreme Court rejected the Democratic Party’s proposal to cancel student loans for as many as 40 million Americans Friday.
The plan could cost as much as $400 billion over the next decade.
The hypocrisy is clear:
As justices accept lavish, six-figure gifts, they don’t dare to help Americans saddled with student loan debt, instead siding with the powerful, big-monied interests.
— Chuck Schumer (@SenSchumer) June 30, 2023
The same Supreme Court that overturned Roe now refuses to follow the plain language of the law on student loan cancellation. This fight is not over. The President has more tools to cancel student debt — and he must use them.
— Elizabeth Warren (@SenWarren) June 30, 2023
BREAKING —> President Biden’s student loan giveaway is ruled UNLAWFUL. The 87% of Americans without student loans are no longer forced to pay for the 13% who do.
This builds on the Fiscal Responsibility Act’s end to the payment pause. The President must follow the law.
— Kevin McCarthy (@SpeakerMcCarthy) June 30, 2023
This is a developing story. Check back for updates.