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Tipsheet

President Biden Vetoes Measure to Overturn Student Loan Debt 'Forgiveness' Plan

Rattankun Thongbun/iStock/Getty Images Plus

This article has been updated to include tweets from the measure's sponsor, Rep. Bob Good (R-VA).

On Wednesday night, President Joe Biden predictably vetoed H.J. Res. 45, which would have overturned his student loan "forgiveness" plan put into place last August. Not only had the resolution passed the Republican-controlled House--with two Democrats joining all Republicans--it passed the Democratically-controlled Senate as well. Sens. Joe Manchin (D-WV), Jon Tester (D-MT), and Kyrsten Sinema (I-AZ), joined Republicans for a vote of 52-46.

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In a lengthy statement that justified his veto, Biden claimed that "To help individuals who had to borrow to go to college, my Administration has been building a student loan system that works."

He also claimed his administration had the authority to go about such a plan:

The Department of Education’s action is based on decades-old authority, granted by the Congress.  Multiple administrations over the last two decades have used this authority, following the same procedures as my Administration, to protect borrowers from the effects of national emergencies and military deployments.  The Department of Education’s exercise of this authority has never previously been subject to the Congressional Review Act.

It's worth noting that former House Speaker Nancy Pelosi (D-CA) has acknowledged Biden does not have such authority. In one of his more bizarre moment, Biden had claimed last October that he "signed a law" to cancel such debt.

Biden's statement closed by calling out members who voted to overturn his plan, along with more self-congratulations:

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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.

I remain committed to continuing to make college affordable and providing this critical relief to borrowers as they work to recover from a once-in-a-century pandemic.

Therefore, I am vetoing this resolution.

The White House further broadcast the veto and continued to call out Republicans over Twitter. 

The Twitter thread failed to mention that the plan could cost an estimated has estimated range between $440 billion and $600 billion over the next 10 years.

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Rep. Bob Good (R-VA), who sponsored the legislation, called out Biden in a tweet not only when the veto took place, but on Thursday morning with a retweet of the president.

To override the veto, two-thirds of the House and of the Senate would need to vote to do so. A decision from the U.S. Supreme Court on the student loan plan could come as soon as later on Thursday. 

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